Insurance

“Al-Mohandes Life Insurance” approves increasing its paid-in capital to 225 million pounds

مصطفى صلاح Mustafa Salah

Iman Al-Wasili

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Mustafa Salah revealed Managing Director of Al-Mohandes Life Insurance Company, about the approval of the company’s general assembly to increase the company’s paid-in capital to 853 one million pounds, adding by saying that It was decided to finance the capital increase amounting to 853 one million pounds from the shareholders’ shares in the retained earnings, and that this comes in The framework of the company’s support for its financial solvency and in accordance with the requirements of the new insurance law, which is close to being issued, Mustafa Salah indicated that his company succeeded in achieving distinguished results during the first 9 months of the current fiscal year 2022/ to achieve a total of

installments One million pounds compared to 34 one million pounds during the corresponding period of the last fiscal year

/

, with a growth rate 225 %, the company also achieved a surplus of activity in the amount of

. million pounds, as well as achieving a net profit of 853 One million pounds during the first 9 months of the current fiscal year 2021/ 2020.

Mustafa Salah explained that achieving positive results and high growth rates On all the company’s financial statements, it is a good start to achieve what the company planned in advance, and that the development of the company’s insurance financial results is due primarily to the company’s possession of human competencies that are among the most efficient in the Egyptian insurance market, adding that his company is currently on the right path, and we are all united to achieve All of our goals are according to the set plan. The Engineer for Life Insurance has the capabilities that qualify it to return to competition strongly in the market.

In response to a question by “Businessmen,” Mustafa Salah said: What our company is currently witnessing is an increase in the rate of premium growth, but it is due to good subscription and the implementation of a new marketing plan that helps the company To spread and provide insurance services that meet all segments of society, stressing that his company is currently pursuing a new idea and a new method of work.