Egyptian Takaful Property’s Reviews Pumping EGP 50 Mln Paid Capital

Mr. Ahmed Morsy, Deputy Managing Director of the Egyptian Takaful Insurance Company (Property), has revealed that his company is planning to pump EGP 50 million to move up its paid capital within the fiscal year of 2013-2014.

Morsy has pointed out in an exclusive statements to Amwal Al Ghad, that the paid capital of his company amounted at EGP 100 million, noting that Property will hold the meeting of broad directors within a few coming days in order to discuss the approval of increasing.

Morsy has indicated that Property inaugurated its new branch in 6th October city, asserting that insurance sector and the companies performances affected negatively due to the current political situation and the ongoing political and economic unrest.

Morsy has demanded the islamists groups to break up pro-Morsi sit-ins to back the political and security stability.

It worth mentioning that Property is targeting to achieve EGP 265 million Premiums within the current Fiscal Year of 2013-2014.