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Royal Insurance Company is getting ready to finalize the procedures of renewing reinsurance agreements, sources said.
The company deals with more than a reinsurance companies in European and Arab countries as well as some of the reinsurers in North Africa.
The company started to follow up procedures to renew reinsurance agreements by the beginning of next July.
Royal Insurance Company was established in 2001 with authorized capital of EGP 400 million and paid-up capital of EGP 40 million.
It is worth noting that Royal Insurance Company targets to achieve premiums of EGP 250 million by the end of FY 2012/2013.
