Egypt's Misr Emirates Takaful Life Insurance (Metlico) targets a 35.5 percent year-on-year surge in its premiums to 145 million Egyptian pounds ($8.7 million) within the financial year 2019/2020, said sources on Monday.
Earlier, premiums registered (...)
Insurance companies operating in Egypt issued micro-insurance policies worth around 281.9 million Egyptian pounds ($17 million) during the first half of the year, according to sources.
These companies succeeded in issuing micro-insurance policies in (...)
Egyptian Mohandes Insurance's total assets surged 9.7 percent year-on-year to 997.8 million Egyptian pounds ($60.2 million) at the end of June, chairman and managing director said on Thursday.
Assets earlier stood at 909.7 million at the end of June (...)
Egypt accounts for around 28 percent of African Reinsurance Corp's (Africa Re) earned premiums from North Africa and Middle East markets in 2018.
Last year, the African reinsurer collected premiums worth around $36 million – equivalent to 599 (...)
Egyptian Takaful Insurance Co. (Property) has won an insurance policy tender to cover South Dabaa Petroleum's (Dapetco) assets and facilities, said official sources on Wednesday.
The one-year term policy will see the coverage of Dapetco's assets and (...)
Egyptian Arab Misr Insurance Group- GIG has won an insurance policy bid to cover the assets and gas pipelines of the state-run Egyptian Natural Gas Co. (GASCO), said official sources on Tuesday.
The one-year term policy will be with a total sum (...)
Egyptian Cooperative Insurance Society (CIS) says it has signed a cooperation protocol with the Union National Bank-Egypt (UNB) to cover the lender's loans granted to the clients.
"The society will cover the risks of non-payment of UNB's loans at a (...)
Three Egyptian insurance companies are competing to win a policy bid to cover the assets of the General Cooperative Association for Agriculture Reform, said official sources on Wednesday.
The three insurers are Misr Insurance, Egyptian Takaful (...)
Egyptian Takaful Insurance Co. (Property) has won an insurance policy bid to cover the assets of a factory producing potato-chip bags in Sixth of October City, according to a senior official.
Egyptian International Insurance Brokerage Co. (IIBC) had (...)
Investments by private insurance funds in Egypt reported a 0.8 percent growth year-on-year in May, the country's market regulator said in a statement on Sunday.
Investments stood at 988 million Egyptian pounds ($59.8 million) in May this year, (...)
Egypt's state-run lender Banque du Caire is negotiating with a number of public and non-life insurance companies operating in the country to cover its assets and facilities, an official source said on Sunday.
The one-year term insurance policy will (...)
African Reinsurance Corporation (Africa Re) plans to raise $38 million or 632.6 Egyptian pounds in premiums from the Egyptian market this year, said senior official on Sunday.
"We had raised premiums up to around $36 million or 599 million Egyptian (...)
Egypt's state-owned Misr Insurance has won an insurance policy tender to cover the assets and warehouses of an oil refinery operating in the country, according to a senior official.
Egyptian International Insurance Brokerage Co. (IIBC) had earlier (...)
African Reinsurance Corporation (Africa Re) reported on Monday a growth in its investments in Egypt to around 1.35 billon Egyptian pounds ($81.2 million) at the end of June.
The company's investment portfolio in the Egyptian market focuses on (...)
Three Egyptian insurance companies are competing to win a policy tender to cover the state-owned carrier EgyptAir's assets, facilities, and vehicles, said official sources on Thursday.
Misr Insurance, Wethaq Takaful Insurance, and Iskan Insurance (...)
Egypt's state-owned Misr Insurance has won an insurance policy tender to cover Egyptian Engineering Automotive Manufacturing Co.'s assets and facilities, according to a senior official.
Egypt Link Insurance Brokerage had earlier mandated an (...)
Egyptian Takaful Insurance Co. (Property) has won an insurance policy bid to cover the state-run South Cairo and Giza Mills and Bakeries' fixed and current assets, according to sources.
With total sum insured of 350 million Egyptian pounds ($21 (...)
Egyptian state-run Misr Life Insurance won a policy bid launched by the Interior Ministry to insure Egyptian pilgrims for the current year, according to sources.
The tender involves cover for hajj pilgrim delegation consisting of the winners of the (...)
Egyptian state-owned Misr Insurance won an insurance policy bid of 560 million Egyptian pounds ($33.7 million) to cover Egyptian Copper Works Co.'s assets and vehicles, according to sources.
With total sum insured of 487 million pounds, the policy (...)
UAE-based Orient Insurance PJSC studies a plan to establish a new subsidiary in Saudi Arabia, with a capital of AED 200 million (EGP 909.2 million), said head of Orient's Egyptian unit on Thursday.
"Saudi Arabia has a strong insurance market that (...)
Four Egyptian insurance companies are competing to win an insurance policy bid for the fixed and current assets of the state-owned South Cairo and Giza Mills and Bakeries Co., said official sources on Monday.
Misr Insurance, Takaful Insurance (...)
Specialist insurance ratings agency A.M. Best has assigned the long-term issuer credit rating of A+ to Orient Takaful Insurance – Egypt, Orient's chief executive said on Thursday.
A.M. Best also assigned the financial strength rating of A (...)
Egypt's Suez Canal Insurance (SCI) has won an insurance policy tender to cover the construction works of El Hamra oil pipeline port project in New Alamein City, northwest of Cairo, according to an official source.
The port is located in 15 km (9.3 (...)
Egypt's state-owned South Cairo and Giza Mills and Bakeries Co. has launched an insurance policy bid for its fixed and current assets, said official sources on Tuesday.
The one-year term policy will see the coverage of the firm's fixed and current (...)
Egyptian Takaful Insurance Company (Property) plans to generate surplus from insurance activity worth 165 million Egyptian pounds ($9.6 million) at the end of June 2020, said its vice-chairman on Monday.
"We target net profits after tax worth 123 (...)
