Cairo – Mubasher: Sarwa Capital plans to establish two separated firms for life and property insurance with a capital of around EGP 100 million each.
The company has obtained preliminary approvals from the Financial Regulatory Authority (FRA) to launch the companies, CEO Hazem Mousa told Almal News.
This comes within the Sarwa Capital’s expansion framework to diversify financial services and solutions offered to clients in a bid to include consumer finance, finance leasing, securitisation, insurance, and factoring, he added.
The company also plans to launch factoring services in the second half of 2018, the CEO remarked.
Sarwa Capital had previously announced it issued bonds worth EGP 2.03 billion for Contact Cars Company and its subsidiaries.
