GIG Says EGP172mln Compensation under Settlements at March

Tarek Mahmoud, Head of Compensation Sector at Arab Misr Insurance Group GIG said the total value of GIG’s reserves compensation under settlement reached up EGP172million at the end of March.

Tarek has quoted Amwal Al Ghad that the auto insurance branch captured the lion’s shares from the compensations with 26% to register EGP45million.

The size of compensation under settlement of auto supplementary insurance branch up EGP32million at the end of March 2014 against EGP13million of Compulsory motor branch in the same period.

GIG is planning settling compensation with €1.8million as result of a fire in one of electronic devices plants.