Iskan Insurance Company plans to inaugurate two new branches outside Cairo, raising the number of its branches to five after launching a new branch in Nasr City at the beginning of the current fiscal year, said Hammam Badr, chairman and managing director of the company.
The two branches will be likely opened up in Delta and Suez Canal governorates after the political situation stabilizes, he added. The two branches were slated to be launched in FY 2012/2013, but the current turmoil delayed the inauguration.
The company also plans to open up a branch in Upper Egypt after the government announced it will start developing this region as insurance companies are oriented to regions that have investments and projects, he explained.
He noted that the company depends on creating balance between its insurance and investment portfolios in order to keep its commitment towards policyholders.