Egypt’s Mohanded Inusrance reported a net profit of 8.58 million Egyptian pounds ($1.3 million) for the second half of 2003 compared to EP 7.6 million earned during the same period last year.
Mohandes is the second largest private sector insurance company in Egypt. The AM Best insurance rating agency recently affirmed the company’s financial strength rating of B++ and a stable outlook. — (menareport.com)
© 2004 Mena Report (www.menareport.com )