Egypt’s Public Partners Insurance Eyes Opening 6 Branches in 3 Years

Chairman & CEO at Ppib( Public partners insurance brokerage) Mohamed Elmaghraby said his company is aiming to expand geographically within the upcoming period, targeting to become branches during the upcoming 3 years.

In statements to Amwal Al Ghad on Monday , Elmaghraby added that Ppib is targeting to inaugurate the first branch in the Egyptian market within the second half of this year, noting that it plans to expand geographically in Hurghada and Alexandria.

Ppib is seeking to assign EGP15 million premiums in favor of the insurance companies contracting with Public partners insurance against EGP14 million assigned premiums within 2014, targeting 7.1% growth rate, Elmaghraby asserted.

Moreover,The company is also intending to continue its issued capital worth EGP2million through pumping EGP1 million capital increases within the few coming months.