Gras Savoye Sudan achieved insurance premiums of EGP 30 million for insurers in 2012, said Hamed Mabrouk, managing director of the company. He revealed that Gras Savoye Sudan raised revenues by 18% in 2012 and targets to increase them by 19% in 2013. Gras Savoye Insurance Brokerage Company plans to open a new branch in Libya in the current year as the insurance market is recovering there, he affirmed. The turmoil witnessed in Libya in the last period was a main reason behind this boom as people have realized the importance of insurance, he continued. Mabrouk added that the company delayed establishing a new branch in Jordan because the insurance market is not thriving enough there. It is worth mentioning that Gras Savoye launched its branch in Sudan in 2010 after receiving approvals from the Egyptian and Sudanese regulators.
