AXA Insurance – Egypt raises paid-in capital to $18.6 mln

AXA Egypt, part of French insurer AXA, has raised its paid-in capital to 300 million Egyptian pounds ($18.6 million), its chief executive said on Wednesday.

“Our authorised capital also increased to 600 million pounds,” Ayman Kandeel further told Amwal Al Ghad.

AXA Egypt is planning to increase its investments within the next period, through expanding in the Egyptian market, Kandeel added.

“Our investments focus on four fields, including developing information technology (IT), offering various innovative insurance products, and investing in human element,” he said.