AMIG Renews Reinsurance Contracts Without Extra Conditions

Arab Misr Insurance Group (AMIG) succeeded in renewing reinsurance agreements for next year, said Ali Bashendy, general manager of technical affairs at AMIG.

AMIG deals with the leading reinsurers such as Munich Re and Swiss Re which have credit ratings of A at least, he added.

Despite the current turmoil, the new reinsurance agreements have the same conditions of the agreements signed last year. This means that the reinsurers are confident about the performance of AMIG as its underwriting policy is mainly based on the fair pricing and strong solvency, Bashendy explained.

The unified program of Gulf Insurance Company in Kuwait, parent company of AMIG, contributes to creating balance in the market and receiving exclusive benefits.

It is worth mentioning that Gulf Insurance Company in Kuwait has subsidiaries in Egypt, Jordan, Iraq, Bahrain, Kingdom of Saudi Arabia, Kuwait, Lebanon and Syria and will launch a new branch in Algeria.