Arab Orient Takaful Wins South Valley Cement’s EGP2.5bn Policy

CEO of Arab Orient Takaful Insurance (AOTIC) Mohamed Moustafa Abdel Rasoul revealed that his company succeeded in capturing insurance policyholder on the assets of South Valley Cement Company (SVCE) with EGP2.5 billion total insurance amounts.

Speaking to Amwal Al Ghad on Sunday, Abdel Rasoul added that the policyholder includes the coverage of all risks such as Fire and burglary as well as the policyholder is for one-year able to renewable.

Arab Orient attained EGP246.9 million in the last fiscal year of 2013/2014 in compared to EGP188.7 million in the previous year, with 30.8% growth rates, Abdel Rasoul noted.

Moreover, Abdel Rasoul explained that the company is aiming to achieve EGP280million premiums within the current fiscal year.