Kuwait Insurance to start $6.37mln life insurance firm in Egypt

The new company will be subject to all regulatory and market authorities in Egypt and Kuwait

  
Image used for illustrative purpose. Cropped Image Of Insurance Agent Discussing With Client At Desk.

Image used for illustrative purpose. Cropped Image Of Insurance Agent Discussing With Client At Desk.

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Egypt - The board of Kuwait Insurance has approved establishing a new life insurance company in Egypt with a capital of EGP 100 million (KWD 1.9 million).

The new company will be subject to all regulatory and market authorities in Egypt and Kuwait, according to a bourse filing.

The decision currently has no direct effect on the company’s financial position, until the new company is established and begins operations.

Source: Mubasher

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