Tokio Marine Egypt Family to pump $5.8 million in capital

Insurer Tokio Marine Egypt Family Takaful is to pump 46 million Egyptian pounds (US$5.8 million), said its Managing Director Masaya Inagaki.

Inagaki said the planned investments are tailored to boost Tokio Marine Egypt Family Takaful’s paid-up capital to 159 million pounds, from 113 million, as the company has been keeping a strategic diague with Japan Head Office and they agreed that the capital injection of EGP 46 million would be executed. The fresh capital will be strategically utilized in order to strength the company’s foundation.

Inagaki said Tokio marine Egypt Family Takaful created a new organizational structure to realize further growth with healthy profit, effective from 1st of November 2015. Mr. Inagaki says that the company will continue growing as Tokio Marine here in Egypt.

In a statement released Saturday, Inagaki said the Company is willing to focus more on the corporate business as it showed positive indicators in 2015. As of end of June, we increased the corporate business by 25 percent compared to the last financial year.

Masaya Inagaki has an aspiration to increase business volume of corporate business to more than double. Also he added that the company will explore the new distribution channel such as banks proactively to expand our business opportunity.

Additionally Inagaki said a positive feature of Japanese company should be a sophisticated quality. “We value the trust from the customer, we will aim to be a good company selected by the trustful quality. Of course we also will continue the necessary effort to respond the customer’s expectation.”