ESIH Secures Approval To Issue Payment Default Insurance Policy

Gamal Shehata, general manager of branches and production department at the Egyptian Saudi Insurance House, said the Egyptian Financial Supervisory Authority (EFSA) approved the issuance of an insurance policy against payment default resulted from bankruptcy or insolvency.

The Egyptian Saudi Insurance House achieved premiums of EGP 175 million in FY 2011/2012, up from EGP 158 million in FY 2010/2011. The company’s medical insurance portfolio stood at EGP 10 million, Shehata added.