Arab Misr Insurance Group (GIG) is planning to expand issuing agricultural insurance products in the Egyptian market within the coming period, Ali Bashandi. CEO – Reinsurance & Technical Affairs at GIG said.
Bashandi has quoted Amwal Al Ghad that the clients will meet this type of insurance products with highly demand in the light of the direction of Agricultural Credit Bank (ACB) to impose mandatory on the farmers in order to get insurance policy to obtain loans.
The mandatory imposition of these policies will help to raise insurance awareness for the high-category and this is a strong indicator for increasing the size of premiums, Bashandi noted.
GIG started reconsidering the credit rating of the company, noting that it is scheduled to hold a joint meeting in Jordan by the end of March with A.M. Best to discuss the re-rating of the company.
Furthermore, he illustrated that this study includes preparing the financial data of the company, along with its market share in the Egyptian Insurance sector, adding that GIG hopes to keep up the previous rating ‘BBB’, explaining that it is a good indicator for the company’s performance.