Tokio Marine General Takaful mulls expansion into 3 new areas in Egypt

Insurer Tokio Marine Egypt General Takaful is studying new expansions to cover three new areas in the country; Upper Egypt, Red Sea, and Suez Canal cities, an official announced Thursday.

Wael Badran, head of marketing and sales sector at Tokio Marine Egypt, told Amwal Al Ghad that his company intends to finalise the expansion studies before the end of the year.

In 2015, Tokio Marine Egypt General Takaful inaugurated new branch in Ismailia and representative office in Port Said city. It has also replaced its Alexandria office to a bigger one.

Tokio Marine Egypt General Takaful has four branches and one representative office, including its main branch in Heliopolis and another in Mohandessin districts.

Tokio Marine Egypt General Takaful is a subsidiary of Japanese Tokio Marine Insurance Group whose network now spans 486 cities in 37 countries with around 40,000 employees.

Tokio Marine Egypt was established as Nile Takaful Egypt in 2008 as a private joint venture arrangement, resulting in the creation of two separate companies known as Nile General Takaful (NGT) and Nile Family Takaful (NFT).

From 1st October 2013 the new names of the two companies are Tokio Marine Egypt General Takaful S.A.E. (TMGT) and Tokio Marine Egypt Family Takaful S.A.E. (TMFT).