Arab Orient Takaful Eyes Premiums Amounting to EGP300mn in 3 Years

Arab Orient Takaful Insurance Company is targeting premiums amounting to EGP 300 million within the next three years, the company’s managing director spoke to Amwal Al Ghad on Saturday.

Mohamed Abdel Gawad – Managing Director at Arab Orient Takaful Insurance  – stated that his firm achieved volume of premiums totaled EGP 200 million throughout 2013, planning to reach EGP 220 million within the current year.

By the virtue of the ongoing political and security instability in Egypt, Arab Orient Takaful Insurance is seeking within the upcoming period to raise the insurance coverage services for Engineering, Marine Hull, and Fire branches, Abdel Gawad noted.

Meanwhile, the Egyptian official further referred that Arab Orient Takaful’s insurance portfolio is balanced and has no intentions to change the shares of both Medical and Motor insurance sections. The medical insurance accounts for 20% of Arab Orient’s insurance portfolio; whereas Motor Insurance branches (both Compulsory and Complementary) represent 30%.