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Financial control: 6 billion pounds surplus of insurance activity for companies, a growth rate of 25%



The Financial Supervisory Authority revealed that the surplus in insurance activities for companies increased by 25% to reach 6 billion pounds at the end of the fiscal year 2020 compared to a surplus of 4.8 billion pounds at the end of the previous fiscal year, noting the improvement in the results of the insurance surplus during the past five years, which reached Two billion pounds at the end of the fiscal year 2015, which was reflected in attracting more new investments to the insurance market by establishing new companies.

 

The Authority added, in the 2020 Harvest Report, that the total premiums of insurance companies increased to 40.1 billion pounds last year, compared to 35.2 billion pounds in 2019, an increase of 14.2% compared to a growth rate of 19.3% during the previous year, and the total compensation value increased. Payments from insurance companies at the end of the fiscal year 2020 to reach 18.9 billion pounds compared to 18.3 billion pounds in the previous year, an increase of about 3.3%, and the value of compensation reached 5.1 billion pounds during the period (April-June) of 2020 compared to 3.6. One billion pounds during the corresponding period of the previous year, which reflects the increase in claims due to the dangers resulting from the repercussions of the emerging corona virus.

 

The total value of insurance company policyholders ’rights increased at the end of the fiscal year 2020 to reach 77.2 billion pounds compared to 69 billion pounds in the previous year, an increase of about 12%, and the total value of insurance companies’ investments increased at the end of the fiscal year 2020 to reach 107.8 billion pounds. Compared to 102 billion pounds at the end of the previous fiscal year, an increase of about 5.7%.

 

The net assets of insurance companies increased at the end of the fiscal year 2020 to reach 128.6 billion pounds compared to 118.2 billion pounds in the previous year, an increase of about 8.8%, and the equity of insurance companies reached 33.4 billion pounds at the end of the fiscal year 2020, at a rate compared to 34.9 One billion pounds at the end of the previous fiscal year, a decrease of 4.3%.

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Tucson Company Inc
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