Royal Insurance-Egypt is planning expanding geographically within the upcoming period in the Egyptian market via inaugurating two new branches in Sharm El Sheikh and Suez. Hassan Darwish, Vice Chairman and Managing Director said.
Speaking to Amwal Al Ghad Arabic’s Website, Darwish explained that selecting these two zones is due to its alluring to investment by the next time, especially in the light of the direction of the Egyptian economy for revival after the presidential elections.
Royal is intending holding meeting of the board of directors in order to support the financial center of the company through pumping its capital, which will contribute in supporting attaining the company’s strategy for the geographical expansion, Darwish noted.
The company is still negotiating with the banks to conclude agreements according to banking insurance mechanism, expecting to sign cooperation protocol during the few coming months.