Care Plus Insurance Attains EGP52mn Collected Premiums in FY13/14

Egypt’s Care plus Health Care Insurance Company written total premiums of around EGP 52 million during the last fiscal year of 2013/2014, Managing Director Hesham Maged revealed to Amwal Al Ghad.

Maged asserted that Care Plus is targeting boosting premiums to reach EGP 75 million by the end of the current fiscal year of 2014/2015.

The company’s paid up capital was increased to EGP 5 million during the last month, noting that Care Plus plans to rise it to EGP 7.5 million.

Egyptian Financial Supervisory Authority (EFSA) has previously announced a number of amendments in supervisory and regulatory medical insurance, most notably the inception of specialised insurance companies at minimum capital up of EGP15 million as well as the establishment of firms for managing health care system as pursuant to the TPA system at EGP4 million capital.