Egyptian Federation wants to market Egyptian reinsurer
Thursday, 10 15 2015, Category: Insurance and Reinsurance, Country: Egypt
The Insurance Federation of Egypt in collaboration with Misr Insurance Holding is considering the possibility of obtaining the assistance of a marketing company in order to promote the feasibility study of the “Egyptian reinsurance company” in the external markets in order to raise the required capital of USD 200 million.
Mr. Abd Al-Rauf Qutb, President of the Insurance Federation of Egypt said that the small committee emanating from the founding committee of “Egypt Re” is seeking the help of marketing companies to promote the company and raise the targeted capital.
He also revealed in statements to “Al Mal News” that the Federation was able to secure 37% of the capital of the company after a large number of insurance companies agreed to contribute in addition to the social insurance fund of the government sector employees.
Source: Al Mal News