Gras Savoye Says EGP 150 Mln Premiums Collected For Insurers In 2012

Gras Savoye Insurance Brokerage Company – Egypt achieved insurance premiums of EGP 150 million for insurers in 2012, said Hamed Mabrouk, managing director of the company.

The company targets to achieve insurance premiums of EGP 175.5 million for insurers in 2013, with an increase of 17%, he added.

Mabrouk revealed that the company succeeded in increasing the volume of revenues by 25% in 2012, fulfilling the company’s target.

He affirmed that the Egyptian insurance sector witnesses a remarkable boom in revenues in the current period, although a large scale of customers in Egypt lacks awareness about insurance.

It is worth mentioning that Gras Savoye Insurance Brokerage Company- Egypt acquired the insurance portfolio of Piraeus Insurance Brokerage Company owned by Piraeus Bank Egypt.

Gras Savoye has received a license number 2 from the Egyptian Financial Supervisory Authority (EFSA) to offer insurance brokerage services.