Misr Insurance Posts EGP 100 Mln Medical Premiums In H1 Of FY 2012/13

Misr Insurance Company achieved medical insurance premiums of EGP 100 million in the first half of FY 2012/2013, said Mostafa El-Shimy, head of medical insurance sector at the company.

The company plans to expand its existence in the medical insurance sector in Arab markets in the upcoming period, in collaboration with many insurance and healthcare companies in these countries, he added.

Expanding in the Arab countries will contribute to improving the insurance sector as well as serving Egyptians expatriates, he noted.

Many customers lack awareness about the medical insurance sector, which made companies compete in offering attractive prices for people and this in turn has negatively affected the quality of the insurance service, he continued.

The medical insurance sector is a promising sector in the Egyptian insurance market, but it faces many obstacles and challenges such as lack of insurance awareness.

It is worth mentioning that Misr Insurance Company targets to achieve medical insurance premiums of EGP 250 million in FY 2012/2013.