Senior sources informed Amwal Al Ghad that Misr Life Insurance has signed a partnership contract with Egypt’s National Post Authority in order to collect insurance premiums through the braches of Egypt Post Authority.
The sources, in exclusive statements to Amwal Al Ghad, pointed out the contract includes all kind of transfers, including documents and money, from and to the company through the post authority.
He added that the contract will contribute to the speed completion of the collection procedures which helps both the company and the customer.
He explained that whereas the contract states that the customers can send the due payments through the nearest PO Box, consequently the contact shall contribute to the quick collection of company’s insurance premiums, in addition to guaranteeing time saving for the customers.
The source added that Misr Life Insurance started negotiation with the outward reinsurers in order renew the insurance agreements for the New Year.
He confirmed that the negotiations did not include any arbitrariness or new terms from the reinsurers’ side inasmuch as their confidence in the company and in the strength of its financial portfolio.
It is worth mentioning that Misr Life Insurance succeeded in achieving premiums of EGP 1.307 billion in the first 9 months of the current fiscal year 2012-2013, compared to EGP 1.139 billion in the corresponding period last year, posting a growth rate of 14.8% .