Egyptian Takaful Non-life, Hannover Re to start reinsurance talks in June

Egyptian Takaful Property and Liability Insurance (EGTAK) will start early this June talks to renew its reinsurance agreements with Germany’s Hannover Re, the Egyptian insurer’s official told Amwal Al Ghad on Wednesday.

Hamed Mahmoud – Head of Reinsurance Department at EGTAK – further said he expects the German reinsurer would renew its agreements the Egyptian company without placing any additional conditions backed by EGTAK’s positive business results.

Hannover Re SE, with a gross premium of around €14.4 billion, is the third-largest reinsurance company in the world. Its headquarters is in Hannover, Germany.