The Delta Insurance Company refused the appointment of neither Alia Helmy, the general manager of ACE Insurance, nor Mohamed Dashish, former chairman of Nile Family Insurance Company, as managing director of the Company, following the late Yassin El-Hamzawy. An Official source said the reason is that the sons of the late Nasser Al-Kharafi refused to appoint both of them and instead nominated Ibrahim El-Alfy, the brother of Moataz El-Alfy who is the chairman of Al-Kharafi Group's Americana for Tourism Projects. The board of directors of Delta Insurance Company had earlier chosen its chairman El-Sayed El-Gohary to act as a temporary managing director for financial and administrative affairs until selecting a manager of the property sector and a managing director. El-Gohary was also assigned to supervise the administrative affairs of the executive committee which is comprised of Saeed El-Alfy, Naser El-Gohary, Hany Alaam and Fathy Yousry. The shareholding structure of Delta Insurance Company is divided as follows: 11.29% for Gulf Arab Overseas LTD, 20.51% for EgyptKuwait Holding Company, 9.96% for Huda Abbas, 6.67% for Nasser Social Bank, 5.53% for Equity Holding International and 46.04% for others.
