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Jul 2021

Egypt: Egyptian Takaful aims to achieve EGP1bn contributions

Source: Middle East Insurance Review | Jun 2021

Gross written contributions for Egyptian Takaful Insurance Co (property) reached EGP790m ($61.87m) by the end of the third quarter of the fiscal year 2020-2021, which concludes at the end of June. Paid claims for the same period reached EGP372m.
 
Managing director Hossam Alma said in an interview with Amwal Al-Ghad newspaper that the company aims to generate total contributions of EGP1bn by the end of the fiscal year. He said that the company has developed its strategy to further diversify lines of business and build solid reinsurance agreements that will boost Egyptian Takaful’s returns.
 
He said the company plans to expand its medical insurance business in the coming period especially as the division has been reporting positive results. M 
 
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