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- Date of creation: 1934, Egypt
- Class of business: Non-life
- Rating:
- AM Best : B++/ Stable
- Fitch Ratings : AAA/ Stable
- Staff: Over 2 500 employees
Misr Insurance Company in 2024
| Share capital | 166 480 000 USD |
| Turnover | 462 318 000 USD |
| Assets | 2 370 431 000 USD |
| Shareholders’ equity | 1 518 896 000 USD |
| Net result | 143 488 000 USD |
| Loss ratio | 67.40% |
| Management expenses ratio | 20% |
| Combined ratio | 87.20% |
* According to the Egyptian supervisory authority, fiscal year 2024 refers to the year 2023/2024, from 1 July 2023 to 30 June 2024.
Management
| Amr M. El-Kadi | Chairman of the Board of Directors (Misr Insurance Holding Company) |
| Noha Roshdy Saad El Din Khalil | Vice-Chairman of the Board of Directors |
| Bahia Ahmed Ismail | Executive Managing Director (Misr Insurance Holding Company) |
| Mohamed Mahran | CEO (Misr Insurance Company - non-life) |
Amr M. El-Kadi
Chairman of the Board of Directors (MIHC)
Contact
| Head Office | 44 A Eldokki st. - Giza - Egypte |
| Phone | (+202) 33 35 53 50 |
| call_center@misrins.com.eg | |
| Website | www.misrins.com.eg |
Shareholding
| Shareholder | In % |
| Egyptian State (The Sovereign Fund of Egypt) | 100% |
Misr Insurance Company : main technical indicators (2020-2024)
Figures in thousands USD
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| Indicators | 2020 | 2021 | 2022 | 2023 | 2024 |
| Gross written premiums | 577 048 | 610 631 | 551 684 | 452 811 | 462 318 |
| Gross earned premiums | 301 716 | 290 305 | 276 115 | 242 188 | 241 689 |
| Gross incurred losses | 161 057 | 129 498 | 136 994 | 142 465 | 162 805 |
| Commissions and acquisition fees | 98 676 | 105 817 | 99 901 | 75 784 | 71 262 |
| General and administrative expenses | 51 063 | 52 632 | 45 637 | 29 977 | 20 366 |
| Management expenses (1) | 149 739 | 158 449 | 145 538 | 105 761 | 91 628 |
| Loss ratio (2) | 53.40% | 44.60% | 49.60% | 58.80% | 67.40% |
| Management expenses ratio (3) | 25.90% | 25.90% | 26.40% | 23.40% | 19.80% |
| Combined ratio (4) | 79.30% | 70.50% | 76.00% | 82.20% | 87.20% |
| Net result | 138 051 | 143 628 | 145 402 | 113 503 | 143 488 |
(1) Management expenses = commissions and acquisition fees + general and administrative expenses
(2) Loss ratio = gross incurred losses / gross earned premiums
(3) Management expenses ratio = management expenses / gross written premiums
(4) Combined ratio = loss ratio + management expenses ratio
Exchange rate as at 30/06/2024: 1 EGP = 0.02081 USD; 30/06/2023: 1 EGP = 0.03233 USD; 31/12/2022: 1 EGP = 0.05311 USD; at 30/06/2021: 1 EGP = 0.06367 USD; at 30/06/2020: 1 EGP = 0.06177 USD
Misr Insurance Company : turnover by class of business (2020-2024)
Figures in thousands USD
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| Classes of business | 2020 | 2021 | 2022 | 2023 | 2024 | 2024 shares |
| Fire | 143 802 | 155 396 | 138 944 | 112 745 | 118 830 | 25.70% |
| Energy | 98 480 | 104 830 | 95 238 | 101 146 | 95 092 | 20.60% |
| Motor | 98 682 | 104 182 | 111 447 | 75 409 | 65 310 | 14.10% |
| Marine (1) | 86 877 | 79 945 | 64 605 | 44 058 | 56 316 | 12.20% |
| Health | 32 897 | 36 260 | 38 215 | 43 058 | 55 652 | 12.00% |
| Engineering | 70 020 | 78 014 | 56 229 | 41 905 | 42 326 | 9.20% |
| Accident | 46 290 | 52 004 | 47 006 | 23 640 | 20 819 | 4.50% |
| Garantie & caution | - | - | - | 10 850 | 7 973 | 1.70% |
| Total | 577 048 | 610 631 | 551 684 | 452 811 | 462 318 | 100% |
(1) Including marine, aviation, and land transportation
Misr Insurance Company : gross earned premiums by class of business (2020-2024)
Figures in thousands USD
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| Classes of business | 2020 | 2021 | 2022 | 2023 | 2024 | 2023-2024 evolution (1) |
| Fire | 44 436 | 53 205 | 54 089 | 46 147 | 47 775 | 60.80% |
| Energy | 36 069 | 26 049 | 29 609 | 28 483 | 34 906 | 90.40% |
| Motor | 96 940 | 98 402 | 86 157 | 63 471 | 57 479 | 40.70% |
| Marine | 39 186 | 30 900 | 29 751 | 28 765 | 25 146 | 35.80% |
| Health | 34 303 | 34 539 | 34 298 | 34 351 | 45 336 | 105.00% |
| Engineering | 14 437 | 7 480 | 4 187 | 11 485 | 8 896 | 20.30% |
| Accident | 36 345 | 39 730 | 38 024 | 21 027 | 17 193 | 27.00% |
| Credit & bond | - | - | - | 8 459 | 4 958 | -8.90% |
| Total | 301 716 | 290 305 | 276 115 | 242 188 | 241 689 | 55% |
Misr Insurance Company : gross incurred losses by class of business (2020-2024)
Figures in thousands USD
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| Classes of business | 2020 | 2021 | 2022 | 2023 | 2024 | 2023-2024 evolution (1) |
| Fire | 19 678 | 5 456 | 23 761 | 25 874 | 33 220 | 99.50% |
| Energy | 31 347 | 830 | 6 423 | 21 528 | 22 030 | 59.00% |
| Motor | 43 343 | 48 081 | 46 528 | 35 640 | 33 684 | 46.80% |
| Marine | 10 853 | 12 714 | 8 977 | 12 669 | 9 428 | 15.60% |
| Health | 30 108 | 33 281 | 27 897 | 29 047 | 43 092 | 130.50% |
| Engineering | 7 559 | 4 032 | 1 260 | 4 789 | 7 110 | 130.70% |
| Accident | 18 169 | 25 104 | 22 148 | 7 553 | 10 661 | 119.30% |
| Credit & bond | - | - | - | 5 365 | 3 580 | 3.70% |
| Total | 161 057 | 129 498 | 136 994 | 142 465 | 162 805 | 77.50% |
(1) Evolution in local currency
Misr Insurance Company : management expenses by class of business (2020-2024)
Figures in thousands USD
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| Classes of business | 2020 | 2021 | 2022 | 2023 | 2024 | 2023-2024 evolution (1) |
| Fire | 38 348 | 44 562 | 36 276 | 28 648 | 23 264 | 26.20% |
| Energy | 14 213 | 14 763 | 14 295 | 13 174 | 11 101 | 30.90% |
| Motor | 47 117 | 43 866 | 48 338 | 29 840 | 27 477 | 43.10% |
| Marine | 16 736 | 17 140 | 14 026 | 9 428 | 9 033 | 48.80% |
| Health | 6 488 | 6 600 | 6 929 | 5 724 | 5 417 | 47.00% |
| Engineering | 10 940 | 12 807 | 9 791 | 7 340 | 6 660 | 41.00% |
| Accident | 15 897 | 18 711 | 15 883 | 9 308 | 6 323 | 5.50% |
| Credit & bond | - | - | - | 2 299 | 2 353 | 59.00% |
| Total | 149 739 | 158 449 | 145 538 | 105 761 | 91 628 | 34.60% |
(1) evolution in local currency
Misr Insurance Company : loss ratio by class of business (2020-2024)
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| Classes of business | 2020 | 2021 | 2022 | 2023 | 2024 |
| Fire | 44.30% | 10.30% | 43.90% | 56.10% | 69.50% |
| Energy | 86.90% | 3.20% | 21.70% | 75.60% | 63.10% |
| Motor | 44.70% | 48.90% | 54.00% | 56.20% | 58.60% |
| Marine | 27.70% | 41.10% | 30.20% | 44.00% | 37.50% |
| Health | 87.80% | 96.40% | 81.30% | 84.60% | 95.10% |
| Engineering | 52.40% | 53.90% | 30.10% | 41.70% | 79.90% |
| Accident | 50.00% | 63.20% | 58.20% | 35.90% | 62.00% |
| Credit & bond | - | - | - | 63.40% | 72.20% |
| Total | 53.40% | 44.60% | 49.60% | 58.80% | 67.40% |
Loss ratio = gross incurred losses / gross earned premiums
Misr Insurance Company : management expenses ratio by class of business (2020-2024)
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| Classes of business | 2020 | 2021 | 2022 | 2023 | 2024 |
| Fire | 26.70% | 28.70% | 26.10% | 25.40% | 19.60% |
| Energy | 14.40% | 14.10% | 15.00% | 13.00% | 11.70% |
| Motor | 47.70% | 42.10% | 43.40% | 39.60% | 42.10% |
| Marine | 19.30% | 21.40% | 21.70% | 21.40% | 16.00% |
| Health | 19.70% | 18.20% | 18.10% | 13.30% | 9.70% |
| Engineering | 15.60% | 16.40% | 17.40% | 17.50% | 15.70% |
| Accident | 34.30% | 36.00% | 33.80% | 39.40% | 30.40% |
| Credit & bond | - | - | - | 21.20% | 29.50% |
| Total | 25.90% | 25.90% | 26.40% | 23.40% | 19.80% |
Management expenses ratio = management expenses / gross written premiums
Misr Insurance Company : combined ratio by class of business (2020-2024)
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| Classes of business | 2020 | 2021 | 2022 | 2023 | 2024 |
| Fire | 71.00% | 39.00% | 70.00% | 81.50% | 89.10% |
| Energy | 101.30% | 17.30% | 36.70% | 88.60% | 74.80% |
| Motor | 92.40% | 91.00% | 97.40% | 95.80% | 100.70% |
| Marine | 47.00% | 62.50% | 51.90% | 65.40% | 53.50% |
| Health | 107.50% | 114.60% | 99.40% | 97.90% | 104.80% |
| Engineering | 68.00% | 70.30% | 47.50% | 59.20% | 95.60% |
| Accident | 84.30% | 99.20% | 92.00% | 75.30% | 92.40% |
| Credit & bond | - | - | - | 84.60% | 101.70% |
| Total | 79.30% | 70.50% | 76.00% | 82.20% | 87.20% |
Combined ratio = loss ratio + management expenses ratio
Source : Financial Regulatory Authority, Egypt. Insurance Annual Report: 2023-2024
