Egyptian Life Takaful Achieves EGP 123 mln Premiums in June-End

Mr. Hesham Abd El-Shakour Managing Director of Egyptian Takaful Company – Life, has revealed that his company succeeded  to achieve EGP 123.8 million premiums at the end of June 2013, compared to EGP 44.7 million in the fiscal year of 2011-2012.

Abd El-Shakour added to Amwal Al Ghad that the volume of compensations which paid by Takaful in the current fiscal year reached EGP 54 million, in compared to EGP 14 million in the fiscal year of 2011-2012.

Abd El-Shakour has emphasized that his company is planning to boost its capital to EGP 130 million, which it is scheduled to review by the annual general meeting in the next week.

It is worth mentioning that Takaful started in life insurance market after obtaining its license activity since 2007 and until 2011, the total portfolio of the customers reached 635 customers, which increased 4 K at the end of the last fiscal year, as increase close to 3.5 K customers with growth rate up 401%.