Egyptian Takaful Life signed the insurance policy covering the employees of Wethaq Takaful Insurance Company with EGP 10 million for a year.
The insurance policy covers 233 employees of Wethaq’s branches five branches besides the headquarter and its compulsory insurance outlets against natural death, accidental death, permanent total disability or permanent partial disability.
It is worth mentioning that Wethaq Company achieved EGP 91.5 million as premiums, while compensations posted EGP 54 million in FY 2010/2011.
Amwal Al Ghad earlier reported that Egyptian Takaful Life insured Lawyers Syndication’s members with EGP 30 billion after a fierce competition with 7 companies.
Egyptian Takaful Life is dealing with the top of international reinsurance companies including Hanover, Munich Re and Gen Re. Egyptian Takaful Life’s paid up capital reached EGP 100 million.