UK’s Willis Towers to acquire two insurance brokerages in Egypt

The step falls in line with the company’s regional expansion plan

  
A trader works at the Egyptian stock exchange in Cairo, Egypt September 20, 2018.

A trader works at the Egyptian stock exchange in Cairo, Egypt September 20, 2018.

REUTERS/Mohamed Abd El Ghany
 

Egypt - British Willis Towers Watson plans to acquire two unnamed insurance brokerages operating in Egypt, Al Borsa News reported.

The step falls in line with the company’s regional expansion plan.

The company will look to combine the portfolios of both those companies and fully acquire their licenses so long as this is within the framework of the Insurance Act.

Both potential transactions are still under consideration, and Willis Towers did not give further details regarding the investment amount.

It is worth noting that Egypt has around 91 firms that operate in insurance brokerage or offer secondary insurance services.

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