Arab Misr Insurance GIG , A.M Best Seek to Re-Credit Rating by March-End

Alaa El-Zoheiry, managing director of Arab Misr Insurance Group – GIG Egypt, said his company plans to negotiate with A.M Best to review the re-credit rating for the company.

El-Zoheiry told that the negotiations include studying the conditions and criteria that will  be included  by rating , especially under the political and economic turmoil witnessed by the Egyptian market in recent period.

He emphasized that the company hopes to maintain the previous classification which was “BBB”, explaining that it is a good indicator regarding the performance of the company as a result of current conditions.

Furthermore, El-Zoheiry added that the company waits restudying the preparation of feasibility by the Insurance Federation of Egypt to determine its position in contributing in Egyptian re-insurance that schedule to establish in the Egyptian market capital with US$150 million capital within the next period.