Gras Savoye Egypt – Insurance Broker plans to open up its new branch in the Arab region, in Kuwait next month, said managing director Hamed Mabrouk on Monday.
According to Mabrouk, Gras Savoye Egypt’s upcoming branch in Kuwait would the third in the region after inaugurating two offices in the Sudan and Jordan.
Kuwait is one of the most promising insurance markets in the region, he added.
He further referred that Egyptian insurance activities have great presence in Kuwaiti market; therefore, establishing an Egyptian insurance broker in Kuwait was pivotal.
Moreover, Mabrouk stated that Gras Savoye Egypt has completed all the required regulatory procedures with the Libyan Insurance Supervision Authority to inaugurate its branch in Libya. However, he added that the inauguration of its branch in Libya is linked to the country’s political and economic stability.
Elsewhere, Mabrouk referred that the parent company Gras Savoye has recently made new expansions in the Eastern Europe in the light of opening up branches in Croatia, Serbia, and Georgia.