ICEC

Delta Insurance co. insures Alex Bank’s personal loans customers by EGP 4 bn

Delta Insurance co. signed an insurance contract to insure 130 thousand customers of Alex Bank’s personal loans.

Ayman El-Alfy, general manager, said that the total insurance value is EGP 4 billion to be against death, personal accidents and total and partial disability.

The total volume of installments is EGP 120 million, compared with EGP 95 million in the first half of the fiscal year 2010/2011, with a 26% growth rate.

The total volume of life insurance installments is EGP 64 million in the current fiscal year, compared with EGP 50 million, with a 27.3% growth rate.  Group insurance volume is EGP 53 million of life insurance installments, compared with EGP 41.4 million, with a 28.5% growth rate. While Individual insurance volume is EGP 10.8 million of life insurance installments, compared with EGP 8.9 million, with a 21% growth rate. The volume of indemnifications is EGP 25.8, compared with EGP 79.9 million.

Amwal Alghad

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