Allianz Resumes Issuing Car Compulsory Insurance Policy Next July

Allianz Insurance Company-Egypt studies resume issuing car compulsory policy in June or July.

Udo Krueger, chairman and CEO of Allianz Life insurance Company and Chairman of Allianz Insurance- Egypt, said that Allianz stopped issuing social responsibility compulsory insurance policies last December, after discovering the selling of fraud policies in the name of the Company. Allianz asked Egyptian Financial Supervisory Authority to stop issuing compulsory insurance policies till detecting the fraud policies.

Fraud policies were spread because there is a third party in the issuance process; therefore the Company is going to sell car compulsory insurance policies through its representatives.