Allianz Life Assurance – Egypt profits at $12.8 mln in FY 2018/19

Allianz Life Assurance Company – Egypt posted profits up to 201 million Egyptian pounds ($12.8 million) during the financial year 2018/2019, announced its managing director on Sunday.

“We paid compensations worth 944 million pounds during the last financial year 2018/2019,” Charles Tawadros further told Amwal Al Ghad.

The company is targeting a 20 percent growth in its premium portfolio, recording 3.7 billion pounds within the current financial year 2019/2020, Tawadros added.

“We achieved premium portfolio estimated at around 3.12 billion pounds during the last financial year 2018/2019,” he said.