Japan-based Tokio Marine has been named an official sponsor of the Tokyo 2020 Summer Olympic and Paralympic Games, managing director of the Japanese insurer's affiliate in Egypt announced on Saturday.
Masaya Inagaki, Managing Director of Tokio (...)
The total investments of Egyptian insurance firms increased 14.6 percent, recording 48.5 billion Egyptian pounds (US$6.1 billion) in 2014 versus 42.5 billion pounds in 2013, Investment Minister Ashraf Salman said Monday.
He asserted that large (...)
The Egyptian Financial Supervisory Authority (EFSA) is to send the new draft law for Insurance Supervision and Control to Investment Minister Ashraf Salman within days, Chairman Sherif Samy said Monday.
Samy made these remarks of the sidelines of (...)
Tokio Marine Egypt General Takaful has recently inaugurated a new branch in Ismailia governorate, situated on the west bank of the Suez Canal, the head of marketing and sales sector Wael Badran announced Saturday
Speaking to Amwal Al Ghad, Badran (...)
Orient Takaful Insurance Company-Egypt targets increasing investment portfolio to 405 million Egyptian pounds (US$51.7million) at the end of current fiscal year, deputy executive director of financial and administrative affairs Mohamed Akef said (...)
Misr Insurance Company - Non-life obtained premiums worth EGP 4.701 billion(US$600 million) within the fiscal year 2014-15 versus EGP 4.581 billion for the corresponding period of the previous year, marking 2.6% growth rate.
In a statement released (...)
The Egyptian Takaful Insurance Company (Property) targets achieving investments worth 490 million Egyptian pounds (US$62.6 million) during fiscal year 2015-16, head of investment department El-Sayed Bayoumi said Tuesday.
Bayoumi told Amwal Al Ghad (...)
Egyptian Takaful Insurance Company (Non-life) studies the launch of a new branch in eastern Cairo this fiscal year 2015-16, Managing Director Ahmed Arfeen said Wednesday.
The new branch is probably to be in Maadi or 6th of October City, Arfeen (...)
Egyptian Takaful Insurance Company (Non-life) aims to achieve premiums worth EGP 10 million (US$ 1.3million) in FY 2015-16, Managing Director Ahmed Arfeen revealed Monday.
The company expects to attain premiums volume of EGP 350 million at the end (...)
Egypt's Suez Canal Insurance has registered premiums volume of EGP 430 million (US$56.3 million) within the first 11 months on FY 2014/15, Ahmed Shehab- General Manager- said on Thursday.
Shehab told Amwal Al Ghad that company's premiums volume has (...)
Egyptian Ministry of Social Solidarity had provided North Sinai Governorate with EGP 19 million (around US$2.5million) in financial assistance during period from March 2014 till current February, minister Ghada Wali said.
She further stated that the (...)
Barclays Egypt published its first half results on Monday, showing a 5.4% year-on-year surge in profits to register 244.5 million Egyptian pounds (US$ 34.2 million).
In H1/2013, the bank posted profits of 231.9 pounds (US$ 32.4 million).
The results (...)
Egypt's Suez Canal Insurance Company (SCI) targets boosting its portfolio of investments to EGP 650 million by end of the current fiscal year (2014/2015), said general manager Ahmed Shehab.
According to initial indicators for SCI's FY 2013/14 (...)
Egypt's Misr Insurance Company (MIC) is planning to increase written premiums to EGP 5 billion within fiscal year of 2014/2015, chairman Adel Moussa told Amwal Al Ghad on Sunday.
MIC's had written insurance premiums totalling EGP 4.7 billion during (...)
Egypt's Misr Insurance Company (MIC) reported a 7.69% year-on-year surge in its portfolio of total investments to EGP 14 billion by end of last June, chairman Adel Moussa revealed to Amwal Al Ghad.
This comes in comparison with MIC's results in (...)
Misr Insurance Company (MIC) will provide insurance cover for Egypt's leading travel company Misr Travel, sources with knowledge of the agreement told Amwal Al Ghad on Tuesday.
The sources revealed that MIC has won an EGP 700 million insurance (...)
Egypt's Suez Canal Insurance (SCI) will provide insurance cover for one of the contracting companies specialized in the installation of electrical grids and transformers, Engineering Sector Head Moshira Maamoun announced.
This comes after SCI has (...)
Egyptian Takaful Insurance – Properties has registered a 30% rise in its portfolio of investments, totalling EGP 367.8 million by end of fiscal year of 2013-14, said head of investment in property division El-Sayed Bayoumi.
In earlier fiscal year (...)
Misr Insurance Company has renewed an insurance policy for UAE Etisalat's Egyptian arm, at a total value of EGP 10 billion, said a senior source from the teleco firm.
The source further told Amwal Al Ghad that the policy covers the whole group (...)
The African Reinsurance Corporation (Africa Re)'s General Assembly approved in its latest meeting held Thursday, June 19th, the allocation of 2% of the corporation's profits to support the social responsibility fund.
Egypt hosted on Thursday the (...)
The African Reinsurance Corporation (Africa Re)'s board of directors endorsed a five-year strategy (2014 - 2019) to develop insurance and reinsurance industry in the continent, said Board Chairman Hassan Boubrik.
On the sidelines of the 36th Annual (...)
The capital gains tax on the stock market is pivotal to finance Egypt's budget, said the newly-appointed Investment Minister Ashraf Salman.
The Egyptian official said the decision whether to adopt or delay the capital gain tax is in the hands of (...)
The credit rating of the African Reinsurance Corporation (Africa Re) is expected to be raised to "A" within the upcoming phase, said Managing director Corneille Karekezi on Tuesday.
Karekezi has made his forecasts after A.M. Best Europe – Rating (...)
The medical insurance in the Arab world is one of the most profitable sectors, Dr. Hazem Al Madi, Technical Adviser to Abu Dhabi-based Green Crescent Insurance Company's board, said on Monday.
This comes by virtue of the less risks witnessed by the (...)
Misr General and Property Insurance succeeded in achieving EGP2.641 billion size of direct premiums during the first 8 months of the current fiscal year of 2013/2014 , compared to EGP2.5 billion during the corresponding period of the previous fiscal (...)