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 (...)
Arab Misr Insurance Group (GIG) is planning to expand issuing agricultural insurance products in the Egyptian market within the coming period, Ali Bashandi. CEO - Reinsurance & Technical Affairs at GIG said.
Bashandi has quoted Amwal Al Ghad that (...)
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 (...)
Wael Abdul-Mohsen, Vice President of Sales & Marketing at Arab Orient Insurance Company said his company succeeded in catching the insurance policy of IKEA Egypt for Home Furnishings and Accessories Company with EGP650 million total insurance (...)
Mr. Mohamed Abdullah, Deputy Chairman and Managing Director of Suez Canal Insurance Company said his company set strategy for the upcoming five years, targeting boosting the premiums' volume to EGP1 billion.
Abdullah told that Suez Canal is planning (...)
Gras Savoye Egypt – Insurance Broker has written premiums totalling EGP 252 million across its three branches i.e. Egypt, Sudan and Jordan during 2013, an official from the insurance firm said today.
Speaking to Amwal Al Ghad on Tuesday, Hamed (...)
Makeen Lotfy Business & Products Development General Manager at Arab Misr Insurance Group (GIG) said his company succeeded to contract with Fawry Electronic Bill Service to collect compulsory motor insurance premiums through its branches, after (...)
Enaya Health Insurance Company , Sherif Fathy Managing Director said the size of collective premiums of the contracted insurance companies reached EGP80 million at the end of the last year, targeting to attain 15% growth rate within the current year (...)
Ahmed Shoukry, managing director of Suez Canal Life Insurance said his company succeeded to attain its targeted scheme for the current year of 2013/2014, registered EGP125 million premiums at the end of last February.
Shoukry told Amwal Al Ghad (...)
Alaa El-Zoheiry, managing director of Arab Misr Insurance Group – GIG Egypt, said his company plans to negotiate with A.M Best to review the re-credit rating for the company.
El-Zoheiry told that the negotiations include studying the conditions and (...)
Bashar Sawas, Managing Director of Libano-Suisse Insurance Co said his company obtained the approval of the Egyptian Financial Supervisory Authority (EFSA) for 7 new insurance products which offered by the company during its first year in the (...)
Ahmed Shoukry, managing director of Suez Canal Life Insurance Company revealed his company's strategy within the coming two years which aiming to capture the third place from the total value of insurance companies' capital markets, so the premiums (...)
Mr. Alaa Mohamed El-Zohairy, Managing Director of Arab Misr Insurance Group(GIG) said the success of establishing reinsurance companies needs three fundamental elements including strong capital which will not less than US$200 million , obtaining (...)
Mr. Alaa Mohamed El-Zohairy, Managing Director of Arab Misr Insurance Group(GIG) said the success of establishing reinsurance companies needs three fundamental elements including strong capital which will not less than US$200 million , obtaining (...)
The Executive Chairman of Tanmeyah Micro Enterprise Services Mr. Amro Abouesh, asserted that Tanmeyah is aiming to inject new financing with worth ranging between EGP550-600 million for micro project markets within the current year.
Abouesh told (...)
Motaz El Tabaa , the Executive Director of the Alexandria Business Association(ABA) said the Association plans in the next period to conclude an agreement with Egypt Post , Fawry Electronic Bill services and the National Bank of Egypt's' Phone Cash' (...)
Motaz El Tabaa , the Executive Director of the Alexandria Business Association(ABA) said ABA intends to boost its Cumulative credit portfolio for microfinance to EGP5 billion by the end of next March.
ABA targets pumping new financing worth EGP1.2 (...)
Senior sources in Misr Insurance Company revealed that the company is about to win the insurance's tender on Helwan South Power Project with total insurance amounts up EGP14 billion.
The sources explained that Misr Insurance addressed to win the (...)
Ahmed Shoukry, managing director of Suez Canal Life Insurance Company said his company is planning to inject EGP30 million as a boost to its capital to become EGP60 million.
Shoukry added that it is decided to determine the mechanism of injecting (...)
Ahmed Shoukry, managing director of Suez Canal Life Insurance Company said his company plans to expand geographically within the upcoming phase by launching 5 new branches, so the total numbers of branches become 15 by the end of next June.
Shoukry (...)
Misr Insurance Company is targeting to collect the annual premiums which worth EGP40 million after activating the third phase of the White Taxi project within the coming period.
Mohamed Taha, Manager of Motor Insurance sector at Misr Insurance Co (...)
Tarek Gamal, general manager of benefits department at Arab Misr Insurance Group – GIG said his company allocated EGP100 million reserve under compensation for 8 clients.
Tarek has quoted Amwal Al Ghad that the settlement includes Kharafi Group, (...)