Allianz Egypt logs over 50% growth in profit

Allianz Egypt has reported a profit of 490 million Egyptian pounds ($31.3 million) in the year ended June 30, with its property and casualty business posting 52% year-on-year growth in profits to EGP139 million, Middle East Insurance Review reported. The insurer’s non-life business Allianz Insurance Company – Egypt reported 29% year-on-year growth in gross written premium to EGP1.1 million.