Egypt – Financing policyholders’ guarantee fund
Monday, 01 16 2017, Category: Insurance and Reinsurance, Country: Egypt
The opinions of insurance industry leaders about the proposal of the Egyptian Financial Supervisory Authority on the financing of the policyholders’ guarantee fund were gathered by “Al Mal News”.
Mr. Ahmed Morsy Deputy Managing Director of the Egyptian Takaful Insurance (property line) said that he refuses to shift the cost of financing of the policyholders’ guarantee fund to policyholders, confirming the role of the customer is not to protect insurance companies from insolvencies, so he should not finance a system that protects his rights in case of the insurance company’s insolvency.
Source: Al Mal News