Mr. Alaa Mohamed El-Zohairy, Managing Director of Arab Misr Insurance Group(GIG) said the success of establishing reinsurance companies needs three fundamental elements including strong capital which will not less than US$200 million , obtaining highly credit rating in addition to the presence of distinct of administration and insurance programs that meet with the customers’ needs.
El-Zohairy added that it has to follow new administrative methods in order to attain huge profits, noting that the companies which operating in general and property insurance sector achieved premiums’ volume up EGP6.9 billion during the previous year, against EGP6.1 billion in 2012.
He further explained that the total compensations paid to property insurance companies reached EGP3.9 billion, in compared to EGP4.8 billion in the previous year, while the first year from January25 uprising was about EGP3.1 billion.
