Al-Sharq Insurance Brokerage Awaits EFSA’s Approval To Contract With 35 Producers

Al-Sharq Insurance Brokerage Company awaits the final approval from the Egyptian Financial Supervisory Authority (EFSA) to contract with 35 producers, said Al Husseini Abdel Aziz, Chairman and Managing Director of the Company.

After receiving the approval, the Company will start contracting with insurance companies in Egypt, along with setting a propaganda plan through the media, Abdel Aziz added.

Al-Sharq Insurance Brokerage Company is a family holding company of which Abdel Aziz owns 80% and his sons owns 20%. The company has paid-up capital of EGP one million and authorized capital of EGP 2 million. The new company, which still awaits EFSA’s approval, eyes a portfolio of EGP 40 million in its first year.