Full details of the subsidiaries of the insurance subsidiaries
Bassel Al-Heni, Chairman of the Holding Company for Insurance, said that Misr Insurance Holding Group has embarked on a comprehensive growth strategy to implement the largest development project since its inception, at the heart of which is the promotion of the human element and the preparation of a second and third leadership class, And then promote the group through several initiatives that are working in full swing to bring them into the light.
Bassel Al-Heni said in a statement to the Holding Company today that the subsidiaries deal with the variables of reality with flexible and new visions and policies during the coming period with tools that suit the circumstances of the times and with enormous financial capabilities and placing the customer at the top of the priorities.
"Our responsibility towards the state, the owner of capital, requires us to aim to maximize profitability and increase the market share and growth rates of the Group's subsidiaries." To achieve this, we are maximizing investment returns and benefiting from the huge investment portfolio that will be managed by Misr Financial Investment Management With a new thought and a sophisticated management style suitable for the largest non-banking financial group in Egypt. "
He also highlighted the importance attached by Misr Holding Group to the development of real estate owned by the group companies through the implementation of mega projects in cooperation with developers and real estate investors, as well as the development of properties of historical nature to ensure the sustainability of the luster and excellence, and turn them into a source of return.
He pointed out that the Group's companies aim at consolidating the use of technology at all levels during the coming period with the latest modern systems and implementing an integrated system of information systems at the highest level to achieve institutional development and also to serve the Group's customers and provide the best insurance services.
The Chairman of the Holding Company stressed the importance of expansion both geographically or at the level of activities. In this regard, studies within the group focus on studying the African market to determine the optimal direction of presence in it, either through representative offices or by increasing the reinsurance operations in this market, in addition to supporting Egyptian exporters and importers. The expansion and diversification of the activities will be through the study of the establishment of new companies in the fields of Takaful insurance "Hayat", medical insurance, finance leasing, crediting, and microfinance.
Hussein Attallah, President of Misr Insurance Company said that the company aims to achieve total resources in progress in 2019-2020 of 10.7 billion pounds compared to 9.0 billion pounds in 2017-2018, with a growth rate of 18.9%.
The company aims to achieve total premiums in 2019-2020 of 10.3 billion pounds compared to 8.6 billion pounds in 2017-2018 with a growth rate of 20.8%.
Hussain Attallah explained that the company seeks to achieve a net profit in the year 2019-2020 with a value of LE 2.5 billion and a shareholders 'share of LE 1.3 million compared to a net profit of LE 1.9 billion achieved in 2017-2018 with a shareholders' share of LE 887.0 million and a growth rate of 49.2% .
On the other hand, Ahmed Abdel Aziz Abdel Salam, President of Misr Life Insurance Company, said that the company aims to achieve total current resources in 2019/2020 of 9.1 billion pounds compared to 7.3 billion pounds in 2017/2018 and a growth rate of 24.6%.
The company aims to achieve total premiums in the year 2019/2020 of LE 5.3 billion compared to LE 4.0 billion in 2017/2018 with a growth rate of 33.2%. The growth of the budget year for individual insurance premiums was 35.8% and 29.6% for collective insurance premiums. And 29.6% for medical insurance premiums compared with 2017/2018.
Dr. Ahmed Abdul Aziz concluded that the company seeks to achieve a net profit in 2019/2020 at LE 1536.9 million and a shareholders 'share amounting to LE 658.3 million compared to LE 1173.1 million in 2017/2018 and a shareholders' equity of LE 538.7 million, with a growth rate of 22.2%.
The company aims to achieve total current resources in 2019/2020 of 501.3 million pounds compared to 403.0 million pounds achieved in 2017/2018 with a growth rate of 24.4%, said Fathia Shteiwi, President of Misr Real Estate Asset Management Company.
The company aims to achieve total revenues for the activity in 2019/2020 of 463.5 million pounds compared to 366.6 million pounds in 2017/2018 and a growth rate of 26.4%.
The company aims to achieve a net profit of LE 170.2 million in 2019/2020 and a shareholders 'share of LE 66.6 million compared to LE 127.4 million in 2017/2018 and a shareholders' equity of LE 42.1 million, a growth of 58.3%.
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