Misr Insurance: 1350 Car Compensations After January

Ahmed Abou El Enein, director of car insurance department at Misr Insurance and head of the general committee of car insurance (subsidiary of Insurance federation of Egypt), said that demands of indemnifications for stolen cars increased by 115 as it rose to 1350 this month.

Indemnifications on supplementary car insurance increase led to an increase in Misr Insurance’s indemnifications to reach EGP 4 million this year. Ahmed Abou El Enein expected that car insurance department will register declined financial results as a result of the raising rate in stealing cars which is due to the continuing security chaos Egypt has been witnessing since the revolution.

Abou El Enein said that Misr Insurance’s share in car insurance department increased by 49.7 in supplementary car insurance unit and 45% in compulsory insurance unit.