The board of directors of Delta Insurance (DEIN) has approved increasing the authorized capital to EGP 1 billion from EGP 500 million, according to a statement filed to the Egyptian Exchange (EGX) on January 3rd.

The board also agreed to the amendment of Articles 6 and 7 of the company’s Articles of Association.

Accordingly, the authorized capital hike’s proposal will be reviewed by the upcoming extraordinary general meeting (EGM).

The upcoming EGM is set to be held on January 30th to discuss the submitted proposal, along with the proposal for raising the issued and paid-up capital to EGP 400 million from EGP 350 million.

Delta Insurance is engaged in the provision of life and non-life insurance and reinsurance services. The company offers its services through two main segments: Corporate Solution Plans, Individual Protection Plans, and Aman El Safar Plan.

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