Egyptian Takaful's profit rise nearly 50%

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Egyptian Takaful Insurance Co. (Property) has reported a 48% increase in profits to 25 million Egyptian pounds ($3.5 million) for the first six months of 2014, Asia Insurance Review reported.

Ahmed Arfeen, managing director at ETIP, said the company's takaful contributions totaled EGP 318.5 million for fiscal year 2013/14, up 16% year on year. Its assets increased to EGP 449 million as of the end of June.

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