Magazine date:
Feb 2016 In July 2015, Khaled Al Baltan, president of Royal Insurance, announced a capital increase of 60 to 100 million EGP (7.68 to 12.8 USD) over the next two years.
The company's shareholders have just validated this first stage of this plan by giving the green light to this operation.
The capital of Royal Insurance will rise from 60 to 80 EGP (7.68 to 10.3 USD). This equity strengthening of the company will be financed by the profits made during the fiscal year that ended June 30, 2015 and which amounted to 45.5 EGP (5.9 USD).
In a second step, the capital will be increased to 100 million EGP (12.8 USD) which will allow the insurer to file an application for marketing energy and aviation risks.