Africa Re Says EGP400mn Paid up Compensations to Egypt’s Market

Africa Reinsurance Corporation (Africa Re) paid up EGP400million compensations to the Egyptian market in the last three years, Omar Gouda Managing Director revealed.

Speaking to Amwal Al Ghad Arabic’s Website, Gouda explained that the company has committed to all the domestic markets which deal with it, noting that it settled for all market’s compensations after January25 revolution as the company’s allocations reached EGP30million.

The market passed by many challenges in the recent period as result of political and economic instability Gouda added.