India’s GIC Re renews reinsurance deals with Egypt’s Wethaq Takaful

Egypt’s Wethaq Takaful Insurance has renewed its reinsurance treaties for 2016 with India-based the General Insurance Corporation of India (GIC Re), its head of reinsurance division said Wednesday.

GIC of India (GIC Re) is the sole reinsurance company in the Indian insurance market.

Hany Mehanny further told Amwal Al Ghad that the contracts were renewed with no additional terms and conditions backed by Wethaq’s good financial results.