Wathaq Takaful Insurance Eyes EGP20 mln Annual Boost of Its Portfolio

Mr. Abdul Latif Sallam. Managing Director. Wethaq Takaful Insurance Co stated that his company is aiming to boost its investment volume by EGP20 million annually, to become as EGP5 million increase for each quarter year.

Sallam has informed Amwal Al Ghad that the total investments of the company reached EGP195 million at the end of last September, against EGP189 million at the end of the previous fiscal year of 2012/2013.

He explained that it is difficult to enter any industrial investments within the ongoing period as the company is in deeply need to highly investment portfolio exceeds more than EGP1 billion, explaining that the company’s investments are the rights of policyholders, and therefore it has to enjoy  safe investments with high returns.

He confirmed that Wathaq’s market share reaches 15% from Takaful insurance company while 1% of the Egyptian Insurance market as a whole, stressing that the company’s growth inches gradually and this will surge the market share in the coming period.

He further emphasized that the company’s policy is not focus on the market share in compared to the insurance projects which it be accepted.