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May 2008 Being the first foreign company to get established in Egypt, the Lebanese company Arope Insurance has obtained agreement from the Egyptian authorities in order to set up two companies in the country: Arope Egypt for Life Insurances and Arope Egypt for Property Insurances. Amounting to 17.54 million USD, the capital of each entity will be wholly held by different subsidiaries of the group BLOM Bank to which Arope belongs.