Cairo – Mubasher: Misr Insurance Holding Company (MIHD) and its subsidiary companies reported a 22.5% year-on-year growth in its profits to EGP 4 billion in fiscal year 2018/2019.

The state’s share in MIHD’s profits rose by 98.1% to EGP 1.5 billion, the company’s chairman and managing director Basel El-Hini said in a statement released by the Egyptian Ministry of Public Enterprise Sector on Monday.

Meanwhile, issued premiums of MIHD’s two insurance units went up by 7% to EGP 13.4 billion in the last fiscal year.

Over the twelve-month period ended 30 June 2019, investments of the state-owned holding company and its subsidiaries totalled EGP 61.9 billion.