Wethaq Awaits EFSA’s Approval Over Road Insurance Policy

Wethaq Takaful Insurance Company awaits the Egyptian Financial Supervisory Authority (EFSA)’s approval over the road insurance policy that covers cars against breakdowns in the road, said Mohamed Abdel Mawla, assistant manager of the technical affairs department at the Company.

The Company has made some amendments to this policy during this week and will send these amendments to EFSA in the upcoming period.

This insurance policy covers all car breakdowns that happened in the road, in addition to delivering fuel to cars wherever they are, Abdel Mawla added.

Besides, the Company plans to send the amendments made to the fire insurance policy in all sectors except for marine insurance sector to EFSA, after being approved last June by the Company, to make the policy comply with the conditions issued by the Insurance Federation of Egypt.

The Company will move to its old headquarters in Dokki by the end of next week, Abdel Mawla added.

It is worth mentioning that Wethaq Takaful Insurance Company targets to achieve EGP 7 million in net profit in FY 2012/2013.