amwalalghad :: Financial Institutions

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GMC GROUP FOR INDUSTRIAL COMME   1.29        Telecom Egypt   11.48        Ismailia Misr Poultry   2.45        El Arabia for Investment & Dev   0.34        Modern Company For Water Proof   1.03        Egyptian Real Estate Group   6.85        Pioneers Holding   2.84        Ezz Steel   7.86        Rakta Paper Manufacturing   4.39        Orascom Telecom Holding (OT)   3.92        Naeem Holding   0.19        Egyptian Iron & Steel   6.87        United Arab Shipping   0.43        Egyptians Housing Development    1.94        Universal For Paper and Packag   4.94        Northern Upper Egypt Developme   4.93        Canal Shipping Agencies   7.39        Misr Chemical Industries   5.65        Egyptian for Tourism Resorts   0.69        Modern Shorouk Printing & Pack   7        Upper Egypt Contracting   0.8        Egyptian Financial Group-Herme   7.42        Orascom Construction Industrie   240.82        Heliopolis Housing   21.65        Raya Holding For Technology An   4.57        United Housing & Development   8.93        International Agricultural Pro   2.1        Gulf Canadian Real Estate Inve   18.08        Alexandria Pharmaceuticals   45.71        Arab Cotton Ginning   2.46        Egyptian Chemical Industries (   7.26        National Real Estate Bank for    11.84        Six of October Development & I   15.03        National Development Bank   6.72        Oriental Weavers   20.66        Arab Gathering Investment   16.29        Egyptians Abroad for Investmen   2.75        Palm Hills Development Company   1.61        Credit Agricole Egypt   9.04        Remco for Touristic Villages C   2.13        Commercial International Bank    29.87        El Ezz Porcelain (Gemma)   1.9        Egyptian Starch & Glucose   5.4        Arab Real Estate Investment (A   0.41        South Valley Cement   3.12        Citadel Capital - Common Share   2.5        Union National Bank - Egypt "    3.25        Ceramic & Porcelain   2.88        Rowad Tourism (Al Rowad)   5.05        El Nasr Transformers (El Maco)   4.78        Egyptian Media Production City   2.31        GB AUTO   27        Sharkia National Food   3.78        Egyptian Transport (EGYTRANS)   7.85        El Kahera Housing   4.97        El Shams Housing & Urbanizatio   2.45        Egyptian Kuwaiti Holding   0.7        ARAB POLVARA SPINNING & WEAVIN   2.11        Cairo Poultry   8.32        Egyptian Financial & Industria   8        T M G Holding   4.03        Asek Company for Mining - Asco   10.66        Misr Hotels   27        Egyptian Electrical Cables   0.56        Medinet Nasr Housing   22.51        Mena Touristic & Real Estate I   1.21        ELSWEDY CABLES   18        Al Arafa Investment And Consul   0.17        Prime Holding   0.91        Alexandria Spinning & Weaving    0.74        Gharbia Islamic Housing Develo   8.41        General Company For Land Recla   16.6        Alexandria Cement   8.9        Arab Valves Company   0.94        Sidi Kerir Petrochemicals   12.4        TransOceans Tours   0.09        Egyptian for Developing Buildi   6.43        Egyptian Gulf Bank   1.24        Kafr El Zayat Pesticides   18.19        Faisal Islamic Bank of Egypt -   35.1        National company for maize pro   11.86        Delta Construction & Rebuildin   4.03        Zahraa Maadi Investment & Deve   48.25        Samad Misr -EGYFERT   3.52        Egypt for Poultry   1.41        Cairo Development and Investme   11.7        Cairo Pharmaceuticals   20.1        Maridive & oil services   0.9        Suez Canal Bank   3.75        Nile Pharmaceuticals   15.81        The Arab Dairy Products Co. AR   73.85        National Housing for Professio   14.39        El Ahli Investment and Develop   4.87        Egyptian Saudi Finance Bank   10.79        Ismailia National Food Industr   5.16        National Societe Generale Bank   25.52        Acrow Misr   19.16        Alexandria Mineral Oils Compan   63.63        Paper Middle East (Simo)   5.59        Egypt Aluminum   12.31        Giza General Contracting   13.12        Middle Egypt Flour Mills   5.82        Extracted Oils   0.6        Assiut Islamic Trading   4.56        Engineering Industries (ICON)   3.95        North Cairo Mills   15.3        Arab Pharmaceuticals   11.88        Grand Capital   5.38        El Ahram Co. For Printing And    10.68        Minapharm Pharmaceuticals   25.49        El Arabia Engineering Industri   13.52        El Nasr For Manufacturing Agri   9.71        Naeem portfolio and fund Manag   1.7        Faisal Islamic Bank of Egypt -   6.76        Natural Gas & Mining Project (   68.26        Housing & Development Bank   13.95        East Delta Flour Mills   31.5        Orascom Development Holding (A   3.22        Memphis Pharmaceuticals   11.12        Abou Kir Fertilizers   134.23        Delta Insurance   5        Cairo Investment & Real Estate   12.18        Cairo Oils & Soap   12.98        Egyptian Arabian (cmar) Securi   0.36        Egyptian Real Estate Group Bea   15.56        Alexandria Containers and good   85.51        Upper Egypt Flour Mills   45.78        Development & Engineering Cons   9.94        Sinai Cement   15.18        Medical Union Pharmaceuticals   28.01        Torah Cement   24.2        Alexandria New Medical Center   46.55        Export Development Bank of Egy   5.04        Egyptian Company for Mobile Se   92.02        Middle & West Delta Flour Mill   32.7        El Kahera El Watania Investmen   4.18        Mansourah Poultry   12.41        Delta Sugar   11.04        Misr Beni Suef Cement   41.21        Egyptian Satellites (NileSat)   6.14        Cairo Educational Services   17.75        Lecico Egypt   7.55        Sharm Dreams Co. for Tourism I   5.3        General Silos & Storage   10.77        Al Moasher for Programming and   0.66        UTOPIA   5.28        Arab Ceramics (Aracemco)   25.4        Barbary Investment Group ( BIG   0.98        

Business - Financial Institutions

Islam Abdelhameed - 2014-12-20 09:27:11
The Private Insurance Fund for the Cairo University staff had achieved investments totalling 365 million Egyptian pounds during 2014, the fund's vice chairman Ali El Deeb told Amwal Al Ghad. El Deeb further said on Thursday the fund's board of directors managed to lower the deficit from EGP 400 million to EGP 200 million within last three years. He further stated that there are three demands to discuss with the Egyptian Financial Supervisory Authority, seeking to amend the executive regulations attached to the private insurance fund law. The three demands are to launch a union representing the country's private insurance funds to be in the same situation of the insurance companies. Launching this union will organize funds' activities in the Egyptian market since every year the country witnesses new further funds, the official noted. In addition, El Deeb said the second demand would be to launch an investment pool, headed by professional administration specialised in the investment field. The pool is to contribute to boost the volume of investments for the private insurance funds. Third, El Deeb asked to facilitate the terms and conditions of the memberships in the funds. More»
Al Zahraa Mostafa - 2014-12-18 13:03:07
Arope Egypt Insurance is targeting a 28% growth in its motor insurance premiums to reach EGP 45 million for the current fiscal year 2014/15. By end of last June 2014, Arope achieved EGP 35 million worth of motor insurance premiums, sources with knowledge of the matter told Amwal Al Ghad on Thursday. They further revealed that Arope’s motor insurance activity would witness a growth in 2015 backed by the increase in car sales and the recent boom in several sectors in Egypt such as tourism. Established in 1974, AROPE has become one of the major players in the insurance industry in Lebanon and then one of the leading insurance providers in the Middle East.
Islam Abdelhameed - 2014-12-17 16:59:38
Misr Insurance Company and Arab Misr Insurance Group (GIG) are competing to win an insurance policy contract for the state-owned Petrotrade Company. The insurance policy is a five-year term, with total sum insured of 408.3 million Egyptian pounds (US$57.1 million), senior sources near with knowledge of the matter told Amwal Al Ghad on Wednesday. The state-owned refiner and distributor Petrotrade for Petroleum Services has recently launched an insurance policy bid, seeking to insure its assets and fleet of cars. The policy includes providing insurance coverage against risks of fire, burglary, dishonesty, cash transfer, and civil liabilities in addition to the employees’ personal accidents, the sources noted. Petrotrade’s policy will also include insurance coverage for the company’s fleet of cars. Out of the total sum insured, the sources revealed that Petrotrade had allocated around 340.9 million pounds to provide insurance coverage for assets, premises, and storehouses against risks of fire. Additional 11 million pounds have been allocated to provide insurance coverage for Petrotrade’s fleet of cars. To insure personal accidents may occur to Petrotrade’s employees, the company allocated 33.35 million pounds. Further 20.75 million pounds were designated to insure against risks of cash transfer alongside 2.5 million for the civil liabilities. Moreover, the sources said Petrotrade would announced the winner of the insurance policy tender in the coming few days. More»
Islam Salah, Islam Abdelhameed & Al Zahraa Mostafa - 2014-12-15 16:42:03
Net investments in the private insurance fund for Egypt-based Arab Contractors’ employees reached EGP 2.2 billion by end of September 2014, an official from the company said on Monday. Ali Al-Rebat – Managing Director of Arab Contractors Employees’ Private Insurance Fund – stated that the government-backed securities capture around 52.08% of the fund’s total investments; while 6.53% are for banking and cash deposits. Arab Contractors Employees’ fund also invests around 12.9% in the country’s stock exchange (EGX), 11.09% in the real estate sector, 1.73% in bonds can be offered on EGX, 1.18% in employees’ loans, and 0.08% in others. The Egyptian official further said, in a keynote speech during the 6th Annual Insurance Private Funds Conference kicked off today, the fund had contributed so far to the implementation of 3 national projects; Safwa Towers in Rod El Farag, Flowers Park Compound in New Cairo,  and October Princess Compound in the 6th of October City. More»
Sayed Badr - 2014-12-15 11:09:26
France plans to grant Egypt two loans worth €150 million (US$186.4 million) to finance household natural gas connection programme and small and medium-sized projects, Egyptian minister of international cooperation said. Minister Naglaa Al-Ahwani referred that the finance agreement was reached during Egyptian President Abdel Fattah al-Sisi’s recent visit to France. The first loan is at value of €70 million designated to finance delivering natural gas to approximately 1.5 million houses across 11 governorates. The second loan, worth €50 million, aims to fund SMEs in Egypt in cooperation with the Egyptian Social Fund for Development (SFD). During a press conference on Sunday, Al-Ahwani also said the volume of cooperation portfolio between Egypt and France reached 27.9 billion francs (US$28.8 billion), through signing 40 economic development protocols during the period from since 1974-2008. More»
Islam Salah, Islam Abdelhameed & Al Zahraa Mostafa - 2014-12-15 09:30:02
Egypt is hosting today the 6th Annual Private Insurance Funds Conference, under the auspices of Investment Minister Ashraf Salman. The event, entitled “the New Approaches in Managing the Private Insurance Funds”, will encompass four successive sessions to discuss strategies to develop systems of managing the private insurance funds, ways to upgrade their efficiencies. Private insurance funds play an important role on the national level as means to support the State social insurance system that ensures appropriate social standard of living to the people reaching the age of retirement. More»
Islam Abdelhameed - 2014-12-13 16:14:13
Three insurance firms are currently competing to win an insurance policy tender launched by Egypt’s Amoun Pharmaceutical Company. The insurance policy is to insure Amoun’s fleet of cars, factories and affiliated facilities. About the three insurance companies competing for the policy, sources with knowledge of the matter told Amwal Al Ghad on Saturday that they were Misr Insurance Company, Orient Takaful Insurance Company, and AIG Insurance Company. The sources further said Amoun’s insurance policy is a one-year renewable term, with total sum insured of 4.2 billion Egyptian pounds (US$587.6 million). Around 200 million pounds of the total sum insured will be dedicated to provide insurance coverage for Amoun’s fleet of cars (1000 vans and private cars), the sources added. Moreover, the sources elaborated that Amoun had also allocated 2 billion pounds to provide insurance coverage for factories and affiliated facilities against risks of fire, burglary, and other additional dangers. Additional 2 billion pounds have been allocated to provide insurance coverage for Amoun’s products against dishonesty. More»
Al Zahraa Mostafa - 2014-12-10 12:46:16
Egypt plans to make the largest insurance company in Italy among the contributors to its first national reinsurance company. According to Mohamed Youssef – Chairman of Misr Insurance Holding, Egypt is currently holding negotiations with Assicurazioni Generali S.P.A. so as to invest in the Egyptian first national reinsurance company. Assicurazioni Generali S.p.A. is the largest insurance company in Italy and the fifth largest insurance group in the world. As of 2014, the company ranks 48th on the Fortune 500 Global 500 list of companies. The Egyptian official further stated on Wednesday that the Constituent Committee for the Egyptian reinsurance company decided in its latest meeting to select PricewaterhouseCoopers (PwC) to conduct the feasibility study. PwC has already started the first phase of the feasibility study, Youssef noted. The first phase will include a marketing feasibility study on the anticipated Egyptian reinsurance company and on the local and regional insurance markets, he added. The first phase of studies will be finalised with two or three months. The Constituent Committee members for the Egyptian reinsurance company include Misr Insurance Holding Company, Misr Insurance Company, Misr Life Insurance, Suez Canal Insurance, Suez Canal Life Insurance, Wethaq Takaful Insurance, Egyptian Saudi Insurance House, Iskan Insurance Company, Royal Insurance Company, Mohandes Insurance, Arope Insurance, Arope Life Insurance, Misr Real Estate Assets, Arab Investment Bank, and Public Sector Workers Fund. More»
Al Zahraa Mostafa - 2014-12-09 12:37:48
Egypt’s Misr Insurance Company has won an insurance policy for the rehabilitation project of Kima 2 Fertilizer Plant in Aswan. According to senior sources with knowledge of the talks, Kima 2 rehabilitation insurance policy is with total sum insured of US$600 million or 4.3 billion Egyptian pounds. The sources further said the policy is a three-year term, designated to provide insurance coverage against engineering risks for the Kima 2 rehabilitation project including dangers of maintenance and tests. More»
Islam Abdelhameed - 2014-12-09 12:02:16
The committee to form Egypt’s first national reinsurance company will encompass 12 insurance firms alongside 3 entities working in various sectors, sources with knowledge of the talks told Amwal Al Ghad. The three other entities included in the committee are Misr Real Estate Assets, Arab Investment Bank, and Public Sector Workers Fund. In exclusive statements to Amwal Al Ghad on Tuesday, the sources stated that the 12 insurance firms joining the committee to form the national reinsurance company include; Misr Insurance Holding Company,  Misr Insurance Company, Misr Life Insurance, Suez Canal Insurance, Suez Canal Life Insurance, and Wethaq Takaful Insurance. The constituent committee will also encompass Egyptian Saudi Insurance House, Iskan Insurance Company, Royal Insurance Company, Mohandes Insurance, Arope Insurance, and Arope Life Insurance, the sources noted. The sources further stated that they expect witnessing more offers from insurance firms and financial institutions to contribute to the Egyptian Reinsurance Company’s capitalisation. Moreover, the sources revealed that PricewaterhouseCoopers (PwC) had been recently selected to launch a feasibility study for the Egyptian reinsurance company. PwC is a multinational professional services network. It is the world's second largest professional services network, as measured by 2014 revenues, and is one of the Big Four auditors, along with Deloitte, EY and KPMG. The table below demonstrates the list of Constituent Committee members for the Egyptian reinsurance company; More»