A new reinsurer should start its activities in 2015

According to Dr Mohammed Yusuf, chairman of Insurance Holding Company (IHC), the Egyptian insurance federation might have reached an agreement with four companies, for the establisment of a 200 million USD-capital para-public reinsurance company.

Besides IHC, the three other companies involved in the project are: Suez Canal Life Insurance, Egyptian Saudi Insurance House and Wethaq Takaful Insurance Company.

The new entity is expected to start its activities in February 2015. Its launch intervenes while many infrstructure projects (which the construction of a new Suez Canal is part of) are planned to increase local and regional investments.