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 (...)
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 (...)
Delta Insurance Company has recently renewed its reinsurance agreements with Munich Re and Swiss Re, the company's chairman told Amwal Al Ghad on Sunday.
The chairman of Delta Insurance Company El-Sayed El-Gohary announced signing renewal agreements (...)
Hesham Abdel Shakour, Managing Director of Egyptian Life Takaful Company said his company is targeting EGP1 billion premiums by the end of June 2018.
Abdel Shakour has informed Amwal Al Ghad that Takaful is aiming to achieve EGP200 million premiums (...)
Abdel Raouf Kotb, Vice Chairman and Managing Director of the Egyptian Saudi Insurance House said his company attained EGP188 million premiums within the last fiscal year of 2012/2013, against EGP158 million achieved premiums in June 2012, with 18.9% (...)
Hesham Abdel Shakour, Managing Director of Egyptian Life Takaful Company, has asserted that his company is aiming to attain EGP200 million premiums by the end of the current fiscal year of 2013/2014.
Abdel Shakour has informed Amwal Al Ghad in an (...)
Alaa el-Zoheiry, managing director of Arab Misr Insurance Group – GIG Egypt, said his company succeeded to capture the policyholder of expansion project for sewage in El Gabal El Asfar/ Al-Qalyubiyah/El Khanka with total value up EGP2 (...)
The chairman of the Insurance Federation of Egypt (IFE), Abdel Raouf Kotb, will be named the president of African Insurance Organization for the next term, following Hassan El Sayed, chairman of the Association of the Sudanese Insurance and (...)
The Egyptian Financial Supervisory Authority's (EFSA) board of directors has approved the statute of the Insurance Federation of Egypt (IFE) in its meeting yesterday, said Mohamed Meit, deputy chairman of EFSA.
EFSA has made minor amendments to the (...)
Kuwait Reinsurance Company targets to achieve premiums of KWD 37 million in 2013 from KWD 36 million in 2012, said Mohammed Al-Tabtabaie, general manager of the company.
Kuwait Re has one foreign branch in Malaysia and does not plan to inaugurate (...)
Claudia Huber, member of the Advisory Committee of Access to insurance initiative and member of International Association of Insurance Supervisors (IAIS), said micro-insurance covers 44.4 million Africans against life risks, default on payment of (...)
Egyptian Takaful Company (Non-life) has succeeded in renewing reinsurance agreement with Hannover Re Group, said Hamed Mahmoud, deputy general manager of the company.
He revealed that Hannover renewed the contract without placing additional (...)
AIG Egypt Insurance Company achieved premiums of US$ 46 million in 2012, said Mohamed Zahran, head of technical affairs at the company.
The company raised the volume of premiums by 8% which is a good growth rate amid the current economic (...)
Political turmoil, low investment returns, high reinsurance prices, low insurance awareness are the main challenges facing Arab insurance sector.
Confidence of foreign reinsurers and insurance brokers in Arab markets fell by 33%.
Arab insurance (...)
IFE's Waiting List: Mirco-Insurance, Healthcare Draft Laws
Bank Insurance Activation To Spur Companies' Growth Rates
Egypt's insurance companies are facing their biggest challenge after the foreign reinsurers start to impose stricter conditions for (...)
Misr Insurance Company is in talks with a number of governmental and non-governmental organizations to market its micro-insurance policies, said Mohamed Khalifa, member of the board of directors at the company.
Misr Insurance Company plans to expand (...)
El-Ghamrawy: poor solvency position and low credit rating main challenges impeding African reinsurance growth
Africa Re Seizes 5% market share, South Africa achieves highest growth rates
African insurance companies are facing many challenges in the (...)
Gras Savoye plans to inaugurate two new branches in Ethiopia and Angola in the upcoming period, said Hamed Mabrouk, chairman of Gras Savoye Egypt – Insurance Broker.
The company has expanded in Kenya, Tanzania, Uganda and Mozambique in the last (...)
The Cooperative Insurance Society – Egypt signed two agreements worth EGP 175 million with the National Bank of Egypt (NBE) to manage the bank's insurance portfolio.
The first agreement covers the bank's branches in Suez Canal region which are more (...)
The Egyptian Saudi Insurance House (ESIH) plans to expand geographically in Upper Egypt in the upcoming period, said Abdel Raouf Kotb, managing director of ESIH.
The the industrial sector in Upper Egypt is currently developing and this will (...)
The Social Fund for Development (SFD) has announced an auction to medically insure its employees with value of EGP 36 million.
Sources told Amwal Al Ghad that SFD seeks medical insurance coverage over its 1200 employees with insurance value of EGP (...)