Al-Sharq Insurance Brokerage Company has received the final license from the Egyptian Financial Supervisory Authority (EFSA) to provide insurance brokerage services, said Al Husseini Abdel Aziz, Chairman and Managing Director of the Company. The company was listed the 37th among insurance brokerage companies by EFSA. The company has authorized capital of EGP 2 million and paid-up capital of EGP one million. The company, which eyes a portfolio of EGP 40 million in its first year, targets to contract with all insurance companies in Egypt. The company also contracts with 35 employees to work in the production and marketing sections of the company. These producers are qualified to conduct the company's transactions, he affirmed, adding that the company will train them in the first six months on work ethics. Al-Sharq Insurance Brokerage Company is a family holding company of which Abdel Aziz owns 80% and his sons owns 20%.
