Royal Insurance Paid EGP 27 Mln Compensations in Q3

Royal Insurance Company posted paid compensations of EGP 27 million in the third quarter of the current FY 2011/2012.

The volume of due compensations, unpaid in the third quarter, reached EGP 65 million, but part of which was paid in the current fourth quarter.

The Company had paid Mansour Chevrolet EGP 13 million as a compensation for the fire damages that happened in its auto parts store in Abu Rawash last March.

It is worth mentioning that Royal Insurance Company was established in 2001 with an authorized capital of EGP 400 million and paid up capital with EGP 40 million. The Company’s shareholders include Mansour Group and Maghrabi Investment Company and a number of banking and financial institutions in Egypt.