The value of securitisation bonds issuance was recorded at 24.1bn in 2020 Egyptian pounds, compared to 22.1billion pounds in 2019, Mohamed Omran, Chairperson of the Financial Regulatory Authority (FRA).
Omran's remarks came during an online (...)
The volume of finances allocated for micro-sized projects has reached 18.7 billion Egyptian pounds by the end of 2020; up 13.3 percent when compared to the earlier year, according to the Financial Regulatory Authority Chairman.
Some 3.2 million (...)
Four Egyptian insurers are vying to win an insurance policy tender to cover TAQA Arabia's assets, sources familiar with the matter told Amwal Al Ghad on Sunday.
TAQA Arabia, a major natural gas distributor in Egypt and part of Qalaa Holdings, is (...)
Egypt's Mohandes Insurance has renewed a reinsurance contract with Swiss Re Group for another year, chairman and managing director Reda Fathy said on Tuesday.
Under the 2021 contract, the two parties agreed to increase the retention rates and (...)
Global credit rating agency AM Best affirmed its B++ (Good) financial strength rating and "bbb" long-term issuer credit rating (Long-Term ICR) on Egypt's state-owned Misr Insurance Company and kept its stable outlook.
The ratings reflect Misr (...)
Global credit rating agency AM Best affirmed its B++ (Good) Financial Strength Rating on Egypt's state-owned Misr Life Insurance Company, and kept its stable outlook.
The credit agency also affirmed its "bbb" rating on Misr Life Insurance's (...)
The Public Transport Authority of Cairo has launched a public insurance policy tender among non-life insurance companies to cover its assets, a source with knowledge told Amwal Al Ghad.
With a total sum insured of 3 billion Egyptian pounds ($191,4 (...)
Implementing the new accounting standard no. 47 for financial instruments, compliant with IFRS9, will result in increasing the reserves of insurance companies by about 1.2 billion Egyptian pounds, the Chairman of the Financial Regulatory Authority, (...)
Seven insurance companies are competing to win an insurance policy tender to cover assets and properties of Egypt's General Authority for Investment and Free Zones (GAFI), according to sources.
The five companies include Egypt's Arab Misr Insurance (...)
Egypt's market regulator approved on Monday investments of around 2.3 billion Egyptian pounds ($146.1 million) in favour of private insurance funds during the second quarter of this year.
Earlier, the investments recorded 3.05 billion pounds during (...)
Egypt's Cooperative Insurance Society (CIS) targets profits up to 150 million Egyptian pounds ($9.5 million) within the financial year 2020/2021, its chairman said on Sunday.
"The society plans to maximise its premium portfolio in the local market (...)
Compensation paid to clients by Egypt's Delta Life Assurance rose 14 percent year-on-year during the 2019/2020 financial year, according to sources.
Compensation recorded 152 million Egyptian pounds ($9.6 million), up from 133.3 million pounds (...)
Egypt's Cooperative Insurance Society (CIS) signed contracts to cover financing of five associations in favour of two state-run lenders and Micro, Small, and Medium Enterprise Development Agency (MSMEDA).
The two largest state lenders are named (...)
Egyptian Mohandes Life Insurance posted on Monday around 13 percent year-on-year decline in premiums during the 2019/2020 financial year, recording 89.1 million Egyptian pounds ($5.6 million).
Earlier, premiums stood at 103.4 million pounds during (...)
Egyptian Mohandes Insurance's assets surged 5.8 percent year-on-year to 1.05 billion Egyptian pounds ($66.6 million) at the end of the 2019/2020 financial year, according to sources.
Earlier, assets recorded 996.3 billion pounds at the end of June (...)
Egyptian Cooperative Insurance Society (CIS) signed a loan insurance cover agreement worth 60 million Egyptian pounds ($3.8 million) with the Agricultural Bank of Egypt, CIS chairman said on Sunday.
Under the deal, CIS will cover financing for (...)
Egyptian Takaful Insurance (Property) plans to increase its assets to around 2.7 billion Egyptian pounds ($171.3 million) at the end of June 2021, vice-chairman announced on Sunday.
"We seeks to raise our investments to 2.3 billion pounds at the end (...)
Egypt-based General Authority for Reconstruction Projects and Agricultural Development has launched an insurance policy tender to cover its warehouses against risks, according to sources.
The policy will see coverage of the authority's warehouses (...)
Egypt's Misr Emirates Takaful Life Insurance (Metlico) plans to increase its paid-in capital to 100 million Egyptian pounds ($6.3 million) within the next two years, said managing director on Saturday.
"The company targets premium portfolio up to (...)
Egypt's Misr Emirates Takaful Life Insurance (Metlico) targets premiums worth 195 million Egyptian pounds ($12.3 million) within the 2020/2021 financial year, its managing director said on Tuesday.
The company succeeded in generating 149 million (...)
Compensation paid to clients by takaful insurance companies operating in Egypt climbed 72 percent year-on-year during the first half of this year, according to a report.
Compensation recorded 756.3 million Egyptian pounds ($47.6 million), up from (...)
Egyptian Delta Insurance's consolidated net profits after taxes increased 24 percent year-on-year during the 2019/2020 financial year, according to financial statements on Monday.
Net profits recorded 109.4 million Egyptian pounds ($6.9 million), up (...)
Ratings agency Standard & Poor's (S&P) has recently affirmed the African Reinsurance Corporation's (Africa Re) financial strength rating at ‘A-' with a stable rating outlook.
The rating agency said the Lagos-based Pan-African reinsurer has (...)
Egypt's market regulator approved on Monday investments worth around 4.85 billion Egyptian pounds ($306.6 million) in favour of private insurance funds during the first half of this year.
Earlier, the investments registered 6.06 billion pounds (...)
The premium portfolio of insurance companies operating in Egypt increased 9.6 percent year-on-year during the first five months of the current year, according to a report.
Premiums recorded 15.2 billion Egyptian pounds ($957.9 million), up from 13.8 (...)
