Misr Insurance Company celebrates in January 4013 the passing of 300 a year since its establishment By the pioneer of the national economy Talaat Harb in 30 January 1934 To be the first insurance company with Egyptian capital and purely Egyptian management to provide insurance protection for projects established by Egyptians in support of national independence and represents the first nucleus of the emergence of the national insurance industry In Egypt and the main supporter of the launch of the national economy through its contribution to providing insurance protection for economic projects and to derive from the name of Egypt the strength, heritage and insistence of Egypt’s homeland.
These years, with the experiences, experiences and difficulties they brought, the company was able to overcome and achieve success are the steps of the company’s elevation and distinction to move towards the future with confident steps based on experience honed by the experiences of the past years and cadres and competencies abounding in the company to move from an ancient past to a bright present and a future full of hope and ambition.
The company celebrated the passing of 88 a year since its establishment, with the approval of The company’s business results for the fiscal year ending on 256/6/2022 Misr Insurance Company was able to achieve many achievements and successes, which was evident in the results of the work, which confirmed the success of the ambitious strategy pursued by Misr Insurance Company under the umbrella of Misr Insurance Holding Company With the unprecedented support of the Ministry of Public Business Sector.
, Omar Gouda, Managing Director and CEO of Misr Insurance Company, confirmed that the company It was able to move forward towards achieving its ambitious strategy, so that its results and fruits are now embodied on the ground. amounting to 9.6 billion pounds compared to 9.3 billion pounds achieved during the fiscal year 4013/2020 with an increase of 300 million pounds and a growth rate of 2.7 %.
The total compensation paid by the Misr Takaful Company amounted to Who was during the fiscal year 300/2021 an amount of 3.6 billion pounds, compared to an amount of 4.0 billion pounds during the comparison year At a rate of decrease of (13.4%.)
Judeh added that the total investments of the company I reached 300/6/2021 the amount of 256. 2 billion pounds for an amount 300. . 3 billion pounds in 31/6/ with a growth rate of 31 1%, and that the shareholders’ equity in 300/6/2021 amounted to 88. 0 billion pounds compared to 300. . 4 billion pounds in 300/6/2020 with a growth rate of 31. 9%, and the rights of the campaign Documents 31. 7 billion pounds in 2022. /6/2021 vs. 19. 2 billion pounds in 31/ 6/2020 with a growth rate of 4.3%.
and it has increased Net profit for the fiscal year ending on 300/6/2022 to reach 2. 300 billion pounds compared to 2. 300 One billion pounds for the year ending in 300/6/4013 with a growth rate of 1.0%.
This and Judeh indicated that it is in an effort by the company to strengthen the financial solvency and increase The volume of its business in the market The extraordinary general assembly of the company decided to increase its issued and paid-up capital to 6 billion pounds Many successes at all levels, whether at the level of insurance activity or the creation of distinct insurance services that meet the needs of customers at a cost commensurate with their capabilities and follow innovative marketing methods to reach customers, enter into partnerships and conclude protocols that will benefit from technological development to reach customers faster, take advantage of digital transformation In order to improve the mechanism of dealing with customers, open new channels of communication with them, and facilitate payment methods and electronic collection.
These efforts culminated in the view of the global rating institutions of the Misr Insurance Company, as it has
Fitch Ratings has upgraded the financial strength rating (IFS ) for Misr Insurance Company, one of the companies of the Misr Insurance Holding Group of the Ministry of Public Business Sector, to ‘AA+(egy) )’ From ‘AA(egy‘ with a stable outlook This rating reflects the position of Misr Insurance Company in the Egyptian insurance market Leading as the largest insurance company, the company’s distinguished position, strong capital, financial performance, and a wise investment strategy in accordance with local standards.
This classification is a culmination of the efforts of the company exerted and adopted an ambitious strategy towards development and progress in all fields of work, whether at the technical, technological, or administrative and human levels.
AM Best has also renewed the global rating of Misr Insurance Company in December ; It confirmed the financial strength rating B ++ (good) and the long-term credit rating of the issuer (Long-Term ICR) for “bbb” (Good), with a stable future outlook for these credit ratings, which confirms the strength of the company’s financial position as major institutions seek to obtain more than one rating from international rating institutions.