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Egyptian Takaful Property commits 2% to Misr Reinsurance's capital
Published in Amwal Al Ghad on 24 - 11 - 2015

Egyptian Takaful Property Insurance is to commit a maximum of 35 million Egyptian pounds (US$4.5 million) to Misr Reinsurance Company (Misr Re)'s equity capital, its managing director said Tuesday.
Ahmed Arfeen said Egyptian Takaful's planned commitment will represent around 2 percent of Misr Re's capital.
The reinsurance firm aims to raise US$200 million in paid-up capital.
According to the feasibility studies conducted by PricewaterhouseCoopers (PwC), the Egyptian insurance market is in need to have a national reinsurance company, Arfeen told Amwal Al Ghad.


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