Wethaq-Egypt board Oks paid-in capital increase

Wethaq Takaful Insurance-Egypt’s board has endorsed a planned increase in its paid-in capital to 190 million Egyptian pounds ($11.7 million), sources said on Monday.

“The company’s capital is currently 150 million pounds,” the official sources from the firm further told Amwal Al Ghad.

During the financial year 2018/2019, the company achieved premiums worth 401 million Egyptian pounds, marking an increase of 44.2 percent or 123 million pounds.