By: Fahd Omran
Cairo – Mubasher: Egyptian Life Takaful Company, a subsidiary of Kuwait’s Gulf Insurance Group (GIG), has announced that it will review and redraft its agreement with Egypt’s National Post Authority (NPA).
The insurance product offered in Egyptian post offices needs to be reviewed and reconsidered, the company’s managing director Rimah Asaad revealed.
Our relations with the NPA also needs a reconsideration to enhance the promotion of our product, Asaad added.
The product’s minimum premium value amounts to EGP 10, without a maximum value, the top official remarked, noting that the policy covers the client’s death with EGP 25,000.
A new insurance law will be issued soon, replacing Law No. 10 of 1981, and will organise all insurance activities, setting a minimum paid-up capital for insurers at EGP 200 million, Asaad concluded.
Translated by: Muhammad Khalid
