News

* 4.4 billion pounds, “Insurance Holding” profits in “2020-2021″… and investments rise to 75.7 billion *

Eman Al-Wasili

7898680569620098773 Misr Company has achieved The Insurance Holding and its subsidiaries of the Ministry of Public Business Sector, distinguished results during the fiscal year 2020/2021, according to the business results approved by the company’s general assembly, where the group’s net profit amounted to about 4.4 billion pounds, with a growth rate of 5.2% compared to the previous year 2019/2020, and the total investments increased to 1280 . 7 billion pounds compared to 2020 an amount 2020. 2 billion pounds in the year

/2020 with a growth rate of 274607225 .8%.

The total premiums issued by insurance companies increased for the year 2020/

at a rate of 41 5% to reach . 5 billion pounds, and the total rights of policyholders for insurance companies increased to . 2 billion pounds, with a growth rate of 41. .7% compared to a year ago 2019/1280.

Male The report of the Board of Directors of the Insurance Holding Company headed by Mr. Basil Al-Hini, that the group achieved strong and influential results in all areas, including the growth of the volume of profits achieved, and the increase in the state’s share of business results (profits, taxes, insurances) which amounted to 4.5 billion pounds for the first time since the company’s inception Holdings.

in the field of Financial investments, the group succeeded in adopting a professional and active approach to managing the huge financial investment portfolio, which resulted in maximizing the value of the portfolio to jump for the first time in the history of the group to more than 2020 One billion Egyptian pounds on various aspects of investment in a way that supports the investment policy of the Egyptian state, after activating the role of the Misr Financial Investments Management Company, which managed only half a billion pounds in the year 7898680569620098773 All money from outside the group, and is currently managing 10 One billion pounds of the group’s funds, in addition to the active management of the financial investment portfolio led by the Holding Company, which led to a significant increase in the value of the portfolio and its returns in line with the group’s ambitions as the largest and oldest non-bank financial entity in Egypt and the Arab region .

On the other hand The group has achieved great development in the areas of participation and contribution to various investment funds. The group and its subsidiaries have also implemented a huge plan for digital transformation, institutional and technological development, in addition to developing marketing policies, applying governance and transparency rules, increasing the number of products, and providing the best service to customers, and the strongest alliance is being established. In the market for the establishment of the Misr Takaful Insurance Company – Hayat, in partnership between the group and its two companies (Misr Insurance and Misr Life Insurance), the National Bank of Egypt and Banque Misr, in addition to submitting an application to the Financial Supervisory Authority to establish a specialized medical insurance company, and the approval of the General Authority for Supervision was obtained Finance on the establishment of a financial leasing and factoring company, which enhances the size of the group’s contribution to The growth of the national economy.

7898680569620098773 (As for the field of insurance activity, the insurance services have been updated through fast and interactive methods with customers and the marketing apparatus, and multiple and modern communication channels such as “mobile – Internet – electronic collection”, and keenness to provide a high-quality insurance service through the formation of a highly efficient actuarial and production team in In the fields of life and property, the group also implemented the largest and largest bank insurance agreement between the Misr Life Insurance Company and the National Bank of Egypt, and achieved the volume of premiums of 2.4 billion pounds, in a precedent that is the first in the field of bank insurance.

The group has succeeded in obtaining the international credit rating of the two insurance companies from AM BEST International with the rating of financial strength.” “B++” and a long-term credit rating “bbb” with a stable outlook. In the same context, Fitch Ratings upgraded the Financial Strength Rating (IFS) of Misr Insurance Company to “AA + (egy)” from AA (egy) “The most important factors in Misr Insurance and Misr Life Insurance obtained this classification, flexibility and flexibility The strong financial loyalty of the parent company (Egypt Holding) and the economic importance of the two companies within the group.

In the field of real estate activity, the group, through the Misr Real Estate Asset Management Company, has achieved fruitful results in implementing a good package of policies to benefit from the real estate wealth owned by the group companies through the optimal use of small plots of land that the company can Self-development, as for large lands, projects will be established on them in a partnership system with some developers and investors, in addition to paying attention to historical properties with a distinguished architectural character and maximizing the desired return from them and creating a mechanism for preserving these properties with distinguished architectural style and maximizing their value, and coordinating with the relevant authorities in Egypt and with international institutions. There are ambitious projects to cooperate with some specialized companies under the right of usufruct, in order to develop these historical properties with the aim of achieving rewarding returns and good results. )