Gras Savoye Egypt – Insurance Broker plans to inaugurate its new branch in Libya by the start of next year, Amwal Al Ghad has quoted the company’s managing director Hamed Mabrouk as saying on Thursday.
Mabrouk stated that his firm will be opening up a new branch in Libya by the beginning of 2014 as Gras Savoye Egypt – Insurance Broker has obtained the necessary license from the Libyan Insurance Supervision Authority so as to perform its insurance activities in the country.
Gras Savoye Egypt’s MD attributed the delay in opening up the company’s branch in Libya to the recent political instability. He also declared that Gras Savoye Egypt has signed a cooperation protocol with one of the most prominent insurance clients in Libya.
Moreover, Mabrouk referred that his firm has chosen Libya to open up its new branch due to growth estimates within the upcoming period in the country’s insurance business, coinciding with Libyan reconstruction process.
