Technical provisions

Totaled technical provisions for fiscal year 2013/2014 amounted to LE 260.1 million versus LE 234.60 million for the previous year, an increase of LE 25.5 million by 10.9%

According to the below table:

Statement


Year 2013/2014

Year
2012/2013

Increase

Increase Ratio %

Technical provisions

260113359

234567475

25545884

10.90%

 

 

 

It's noteworthy that the company has reserved all technical provisions in order to fulfill its commitment towards policyholders and beneficiaries according to good technical and theoretical principles and as stipulated the law No.10 for the year 1981 as amended by law No.91 for the year 1995 which is approved by the company's actuary.