Egyptian Mohandes Insurance said on Sunday it has succeeded in turning from deficit into technical oversubscription in five years.
The firm achieved technical oversubscription worth 16.1 million Egyptian pounds ($999,618) during the 2018/2019 financial year from 19.1 million pounds deficit at the end of June 2014, marking a 184 percent growth.
During the last five years, Mohandes’ premiums jumped around 202 percent to 509.9 million pounds versus 168.5 million pounds during the 2013/2014 financial year.
The company’s assets also increased 71 percent to 997.8 million pounds at the end of the last financial year against 582.9 million pounds during the 2013/2014 financial year.
The firm made financial year 2018/2019 insurance activity surplus worth around 100.05 million pounds, compared with 16.8 million pounds during the financial year 2013/2014, marking a 495 percent surge.
