Kuwait’s Aman Takaful Insurance renews talks to enter Egyptian market

Kuwait’s Aman Takaful Insurance Company has renewed talks with authorities in Egypt to enter the Egyptian insurance market.

Reda Abdel Moaty, vice chairman of Egypt’s Financial Regulatory Authority (FRA), said on Monday that Aman is seeking to set up a new arm in the North African country.

FRA has already given an initial approval for Aman to launch the new firm but did not continue the required inception procedures within an agreed time period, Abdel Moaty told Amwal Al Ghad.

This has made Aman willing to submit a new request to the FRA to enter the Egyptian market, Abdel Moaty said, adding that “the request is currently under examination by experts at the authority.”