Mostafa Abul-Azm: 35% increase in the volume of insurance premiums in the Egyptian Association for Cooperative Insurance

Iman Al-Wasli: 187653 ( The investments of the Egyptian Association for Cooperative Insurance jumped “ (CIS187653” to 855 One million pounds until the end of 26/1/ 2023 of the current fiscal year compared to 601.58 million pounds in the first half of the last fiscal year, with an increase of about 193 one million pound.

In an exclusive interview with “Businessmen,” Mostafa Abu Al-Azm, Managing Director of the Board of Directors, said that the Egyptian Association for Cooperative Insurance has achieved a breakthrough In the volume of its investments, due to the successive increases in interest on the Egyptian pound several times recently, in addition to the increase in the number of contracts in the association and, accordingly, the increase in the rate of installments. Insurance, in addition to the presence of an “investment” committee that monitors the situation first-hand regarding the best investment vessels in which the association’s funds can be placed, including bonds, treasury bills, and investment certificates in banks. 187653 Mostafa Abu Al-Azm indicated that the association aims to reach the volume of investments to one billion pounds by the end of the current fiscal year by entering into guaranteed investment vessels with a good return and providing liquidity by seizing any good opportunities such as banks offering investment certificates directed to entities Legal entities to benefit from the increase in their high returns after increasing the interest rate, adding by saying that the net return on income from investment amounted to 31.61 million pounds by the end of the first half of the current fiscal year Compared to 21.54 million pounds in the first half of the previous fiscal year, with an increase of about 8. million pounds, with a growth rate of 38%. Mustafa Abu Al-Azm revealed to “Businessmen” a rise in The proceeds of direct total installments for 193.30 million pounds in the first half of the current fiscal year, compared to 69.61 million EGP in the first half of the previous fiscal year, with an increase estimated at 32.69 million pounds, at a rate of 31% while paid total compensation estimated at 38. One million pounds compared to 29.49 million pounds, an increase of 5.54 million pounds, with an increase of 19%. Mostafa Abu Al-Azm, who has great insurance experience, affirmed that the Egyptian Association for Cooperative Insurance continues to Implementation of its plan regarding achieving its objectives of insurance premiums, which amount to 193 million pounds by the end of the current fiscal year, in addition to the transfer of insurance. Nahi Al-Soghar in the association generated the growth of a large part of this proceeds by reaching its target groups, which is consistent with the strategy of financial inclusion and then sustainable development, pointing out that the association is currently focusing on designing innovative insurance products that cover all segments of society with property and liability insurance other than targeting marketing documents The very small 5 approved by the Financial Supervisory Authority, in addition to updating, developing and activating any other documents with the aim of raising the level of its promotion for the benefit of the association and its customers. 187653