GAIF’s Egypt Representative steps down over new Candidacy Terms

Egypt’s representative and head of the General Arab Insurance Federation (GAIF) Alaa El-Zohairy has stepped down on Sunday from his position.

El-Zohairy – who is also the Managing Director of Arab Misr Insurance Group (GIG) – attributed his resignation to the candidacy conditions set by the Insurance Federation of Egypt (IFE) to represent Egypt in GAIF.

One of the conditions, set by IFE, stipulates that the candidate should not previously be a board member in GAIF for more two consecutive terms. In return, IFE would then have the upper hand in electing names to represent Egypt in GAIF, El-Zohairy noted.

Furthermore, El Zohariy asserted that the new candidates are Dr. Mohamed Ghazy, Chairman of Misr Life Insurance Company; and Ahmed Arfeen, Managing Director of the Egyptian Takaful Insurance Company.