Khaled Abdel Sadiq: “Al-Mohandes Insurance” achieved 321 million pounds in installments. And 118 million pounds in paid compensation
We are moving steadily at all levels to embody the position of our company in the market and the strength of its financial solvency
Iman Al-Wasili
Khaled Abdel Sadiq, CEO and Managing Director of Al-Mohandes Insurance Company, said that the results of the financial position of his company were about half. the first of the current fiscal year” 2021 / 2022 “After complying with the instructions of the Financial Supervisory Authority to apply the standard” 321 ” related to financial instruments, with the help of one of the distinguished offices in the field, which showed a positive development of its activity and a significant increase in the portfolio of direct premiums
for the total of its insurance branches, which amounted to 321 ) million pounds in the current period compared to the amount of 321 million pounds in the corresponding period of the last fiscal year, achieving A growth rate of 9.9%. This remarkable rise in the premium portfolio – Abdul-Sadeq said – is due to the company achieving tremendous growth rates in most insurance branches, and the company also achieved values that exceed those targeted in the estimated budget approved by the Board of Directors by an estimated percentage 72%, despite the current economic conditions that we are going through from the repercussions of the Corona pandemic, as well as the challenges facing the company to be a major player in the insurance market.
Khaled Abdel Sadiq revealed to “Businessmen” that the Engineer for Insurance paid compensation to its clients during the current period, estimated at
million pounds compared to
million pounds in the corresponding period of last year, with an estimated increase of 4 million pounds, with a growth rate of 8%. Company oversubscription amounted to .30 million pounds for 9.321 million In the corresponding period of last year, an increase of 2.59 Million pounds and a growth rate 32.62 %.
And about the engineer’s insurance portfolio.. Khaled Abdel-Sadeq explained that the company’s investments in
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reached 866. One million pounds compared to
.46 million pounds, an increase of 40.292 million pounds, at a rate of 4.292 %, and the engineer’s net profit amounted to
.47 One million pounds compared to 2022 .321 million pounds in the corresponding period of last year, with a growth rate of 5%, “after excluding other non-recurring revenues amounting to 6 million pounds in the corresponding period.” The rights of the policyholders amounted to 321 /02/2021 Amount of 866. 8 million pounds compared to 2022. .6 In 30/6/2021, and the total shareholders’ equity in 43/30/2021 Amount of 414.7 million Egyptian pounds compared to 414.5 million Egyptian pounds in
Khaled Abdel-Sadek stressed in the context of his statements that good underwriting, providing a high-quality insurance service, and providing appropriate and rapid support to our customers are the cornerstones of implementing our new strategy, in addition to the marketing effort represented in attracting new customers, maintaining our company’s existing customers, and restructuring and developing geographical branches. The company, adding that his company is currently working on developing its insurance products to expand the scope of coverage it provides to its clients to keep pace with developments in the insurance market. concluded Khaled Abdel-Sadeq concluded his statements by emphasizing that Al-Mohandes Insurance is moving at a steady and successful pace at all levels, and we are setting our sights on a goal. One is for Al-Mohandes Insurance Company to return to its natural position in the Egyptian insurance market in a way that reflects the strength of its financial solvency and the strength and position of its shareholders, as well as its possession of the most efficient human resources, which is the mainstay for the advancement of the company.
