Egypt’s AIG Says US$ 46 Mln Premiums Achieved In 2012

AIG Egypt Insurance Company achieved premiums of US$ 46 million in 2012, said Mohamed Zahran, head of technical affairs at the company.

The company raised the volume of premiums by 8% which is a good growth rate amid the current economic disturbances, he told Amwal Al Ghad.

The Egyptian insurance sector’s premiums are expected to grow in the next period. The main challenge facing the sector is the large volume of due compensations, he noted.

He revealed that AIG’s parent company in USA does not plan to expand geographically in the upcoming period as it has already existence in most of the world’s countries and will not open branches in countries which witness economic and political disturbances such as Tunisia and Libya.