Al Mohandes Insurance To Split Life, Non-life Operations
The Egyptian Financial Supervisory Authority (EFSA) has approved the cancellation of Al Mohandes Insurance Company’s life insurance activity and the establishment of separated life insurance company subsidiary to Al Mohandes, in accordance with the law no. 18 of 2008 which obligates insurance companies to separate life insurance activities from non-life insurance activities within two years from the date of issuing the law.
Al Mohandes Insurance Company will hold an extraordinary general assembly meeting to reconsider the article no. 3 to change the purpose of the company and cancel the life insurance activity.
