Al-Sharq Insurance Brokerage Awaits EFSA’s Final License

Al-Sharq Insurance Brokerage Company awaits the Egyptian Financial Supervisory Authority’s (EFSA) final license by the end of next week to start conducting its transactions in the Egyptian market, said Al Husseini Abdel Aziz , Managing Director of the Company. The initial approvals and licenses were done, but the company requires the registration number from EFSA.

Al-Sharq Insurance Brokerage Company has a capital of EGP 2 million and paid-up capital of EGP one million. The Company’s headquarters is currently in Tahrir Square. Al-Sharq Insurance Brokerage was working as an individual broker at Al-Sharq Insurance Company where its portfolio reached EGP 35 million, he noted.

Abdel Aziz continued that Al-Sharq Insurance Brokerage Company targets to increase its portfolio to EGP 40 million in its first year.