AMIG’s Minya Branch Eyes EGP 700,000 Premiums In 1st Year

The Arab Misr Insurance Group (AMIG) targets to achieve premiums of EGP 700,000 from its new branch in Minya in its first year, sources said.

AIMG succeeded in the last few months of launching new branches in Sharm El-Sheikh, Minya, Suhag and Hurghada, in addition to contracting with a number of non-governmental organizations to market micro-insurance policies, sources added.

AMIG has recently received the Egyptian Financial Supervisory Authority’s approval over new insurance policies such as pharmacists and exports guarantee policies.

It is worth mentioning that A.M. Best Europe – Rating Services Limited has assigned a financial strength rating of B++ and issuer credit rating of “BBB” to Arab Misr Insurance Group S.A.E (AMIG).

AMIG achieved EGP 267 million in the first nine months of FY 2012/2013, registering a growth rate of 17%.