Kuwait Insurance Company: life subsidiary in Egypt

The Board of Directors of Kuwait Insurance Company has approved the creation of a life insurance company in Egypt. The new entity’s share capital is set at 100 million EGP (6.3 million USD).

Kuwait Insurance recorded an average annual ROE of 8.4% from 2015 to 2019. Its net profit that was set at 10.53 million KWD increased by 10.4 million in 2019.

The transaction is yet to be approved by the Egyptian and Kuwaiti regulatory authorities.