Egypt’s Misr Insurance first-half profits hit $67.5 million: sources

Egypt’s state-owned Misr Insurance posted profits worth around 1.155 billion Egyptian pounds ($67.3 million) during the first half of financial year 2018/2019, sources said on Monday.

The company generated surplus from insurance activities worth 671 million pounds during the first six months of financial year 2018/2019, the sources further told Amwal Al Ghad.

Total assets reached 35.453 billion at the end of 2018, they added.

Direct premiums seized 84 percent of Misr Insurance’s total premiums to register 4.682 billion pounds, the sources said.

Reinsurance premiums reached 873 million pounds during the first half of the current financial year, they said. Net premiums amounted to 3.271 million pounds.