Egyptian Takaful Property’s Premiums Expected To Reach EGP 265 Mln

Ahmed Arfeen, Managing Director of the Egyptian Takaful Insurance Company (Property), has revealed that his company is aiming to achieve EGP 265 million within the current Fiscal Year of 2013-2014.

Arfeen has pointed out to Amwal Al Ghad  that the current political situation within this period contributed to the postponement of all the company’s expansion geographically and artistically plans.

Arfeen added that the continuation of this unrest situation adversely affect all the economic sectors, including the Insurance sector, due to the big losses of insurance companies, resulting from increasing the size of the compensation paid.

Arfeen has emphasized that the current events has increased the pains of Insurance sector represented in low volume versions insurance, increasing theft, burglaries cases of automotive sector which led to the high volume of compensation, in addition, the lack of Egyptian market investments.