Account receivables of insurance transactions

Statement

30/6/2014

30/6/2013

Outstanding Premiums

47272415

36503274

Insured Person Current Accounts

72651497

46361797

Postdated Cheques

62691400

25538044

Returned Cheques +  lawsuit in court

3414364

3289884

Total

186029676

111692999

Account receivables of insurance transactions

13265410

11042105

Net

172764266

100650894

 

 

 

 

 

It is worth noting that, the increase of insurance debt balance this year due to previous year is caused by giving credit facilities for some of distinguished customers. Although the strong competition in the market, economic situation and political conditions of the country, management of the company did its utmost to enhance the collection of due amounts for fiscal year 2013/2014. 35.2 million LE is collected in first quarter of fiscal year 2014/2015.