Promise Insurance Brokerage Waits EFSA’s Approval

Promise Insurance Brokerage Company will send all the required documents to Egyptian Financial Supervisory Authority, in the upcoming days to get the final approval for offering its services, said Ahmed Naguib, deputy chairman and managing director.

The required documents include the Company’s commercial registration and tax card and the contract of its headquarters in Algeria Street in Mohandessin.

The Company targets registering premiums amounting to EGP 20 million in the first year. The Company is dealing with different insurance companies in Egypt including; Chartis Insurance, Delta Insurance, Arab Misr Insurance Group, Egyptian Saudi Insurance House, Cooperative Insurance Society Egypt and Allianz Insurance.

It is worth mentioning that Egyptian Financial Supervisory Authority approved the establishment of Promise Insurance Brokerage Company with paid up capital of EGP 2 million. 35% of the Company’s ownership body is owned by shareholders and 65% of which is owned by Ahmed Naguib.