AMIS Launches Medical Care Program For Syndicates Next November

The Accountants Company for Management and Integrated Services (AMIS) will launch a medical care program for members of professional syndicates next November, said Gamal Badawy, CEO of AMIS.

The Company will conduct negotiations with two private insurance companies tomorrow, in order to select an insurance company for managing the program and incurring the risks and compensations.

This program will be available for members of all professional syndicates which do not offer medical insurance coverage which are tour guides and nursing syndicates, in addition to the new independent syndicates, Badawy noted. This program is designed for low-income people who seek good medical service.

The medical program targets 100,000 customers all over Egypt in the first year.  AMIS will depend on the insurance company’s branches for selling the insurance policies of this program. The Company will launch two new branches in the upcoming period; one in Damanhour and the other in Upper Egypt region.

Negotiations with insurance companies will start after studying some issues related to the medical insurance program such as its final features and subscription methods. AMIS is also in talks with a bank in order to assign it to collect the subscriptions.

AMIS is finalizing procedures in order to offer some of its shares to the public through listing on the Nile Stock Exchange. The Company plans to increase its capital from EGP 500,000 to reach EGP 3 million. The number of the Company’s customers reached 100,000 at the end of 2011.

AMIS was established as an Egyptian holding company and started its work in 1996. The shareholders’ structure of the company is divided among Cairo Accounting Syndicate, Arab Investment Bank, Al Shark Insurance and a number of economists and professors.