Arab Insurance GIG May Attain EGP360mn Premiums by 2014-End

Managing Director of Arab Misr Insurance Group (GIG) Mr. Alaa El-Zohairy said the size of premiums which expected to be attained by the company by the end of the current fiscal year 2013/2014 up EGP360 million.

Speaking to Amwal Al Ghad, El-Zohairy explained that GIG succeeded in attaining EGP278 million from the total value of underwrite premiums during the first 9 months of 2013/2014.

GIG plans following new marketing methods such as banking insurance by the upcoming phase in order to allure new categories of clients, El-Zohairy noted.

GIG awaits the approval of the Egyptian Financial Supervisory Authority (EFSA) so as to promote its products through 3 banks and according to banking insurance, El-Zohairy added.

GIG is also waiting EFSA’s approval to launch its Mutual fund in the Egyptian market, stressing that the company has already requested from the Authority to launch Mutual fund with EGP100 million as an initial capital.