Misr Insurance Recovers 20 of 1700 Stolen Cars Since Revolution

Misr Insurance Company has received 1700 claims for stolen cars; 600 of which are for stolen white taxi since last year’s revolution, said Ahmed Aboul Enein, head of vehicle insurance sector at the Company.

Aboul Enein told Amwal Al Ghad that 20 cars were recovered and 90% of which will be repaired and returned to the owners. There were 79 claims for stolen cars in April, compared to 130 claims in March, he said.

The vehicle technical committee at Insurance Federation of Egypt will finalize the vehicle takaful (Islamic insurance) policy during the current week to be afterwards submitted to the executive board and approved by the Egyptian Financial Supervisory Authority, he added.

The talks over executing the “one window project” was postponed till the new fiscal year when political situation is expected to stabilize, Aboul Enein added.

It is worth mentioning that Misr Insurance’s market share stands at 50%.