Ahmed Shoukry was chosen by acclamation as a member of the Insurance Federation of Egypt (IFE) following Ahmed Ramadan, the former managing director of Solidarity Family Takaful Egypt, who submitted his resignation to IFE after the company exited the Egyptian market.
IFE’s board of directors also decided to hold election next month to choose a temporary deputy chairman for IFE until holding another election to choose a new board of directors including chairman and deputy chairman. The board also discussed the annual report for 2011 and approved the budget and the estimated budget.
It is worth mentioning that Mohamed Dashish, chairman of Nile Takaful Company, held the deputy chairman position of IFE after competing with Rabea Abdel Khalek, the managing director of Alico Life Insurance, in the last election. Each term lasts two years. The IFE chairman could not serve more than two terms.
