Cairo – Mubasher: Egyptian insurance companies’ net profit increased by 27.3% by the end of 2015, said Sherif Samy, the chairman of Egyptian Financial Supervisory Authority (EFSA).
FY15 net profit reached EGP 2.1 billion, up from EGP 1.6 billion for the fiscal year of 2014, the chairman stated.
The sector’s activities grew 8.6% year-over-year to EGP 59.8 billion from EGP 55.1 billion.
Net investments registered EGP 52.5 billion in 2015, 8% up from EGP 48.6 billion in 2014.
Moreover, the sector’s total premiums rose 12.9% to EGP 16.2 billion, while the total amount of paid compensations was up 20% to EGP 8.8 billion.
Meanwhile, shareholders’ equity slightly edged down by 0.7% to EGP 10.4 billion due to a decline in total reserve.
