Al Chark Insurance Brokerage Company collected EGP 150,000 worth of premiums for insurance companies in the first quarter of 2013, Al Husseini Abdel Aziz, Chairman and Managing Director of the company.
The current political turmoil and economic deterioration in Egypt dampened the insurance sector’s results, he added.
The insurance sector awaits the stabilization of the political scene and recovery of economy to start offering customers new services, he stressed.
He revealed that the company plans to expand the area of the company’s headquarters in Downtown and it also targets to expand in governorates after the political and economic scenes stabilize.
It is noteworthy that Al Chark Insurance Brokerage Company has recently received the final license to conduct insurance brokerage services as a family holding company. The shareholding ownership of the company is divided as such: 80% is owned by Abdel Aziz and 20% is owned by his sons.
