Misr Insurance Company: share capital increase

The shareholders of Misr Insurance Company have approved, during an extraordinary general meeting, a 60% increase of the company's share capital. The latter has gone from 5 billion EGP (205.15 million USD) to 8 billion EGP (328.24 million USD).

This operation will give the Egyptian insurer the opportunity to strengthen its financial strength in order to face the sector's challenges.

Misr Insurance has recorded a 10.4 billion EGP (552.34 million USD) turnover during the financial year ended 30 June 2022, which represents an 8.3% increase over a year. The net profit has improved by 21.4% to stand at 2.737 billion EGP (145.36 million USD).