MDI Insurance is increasing its exporter ' s and paid capital of Pound200 million, to Pound400 million, in line with the requirements of the General Financial Control Authority to raise the minimum capital of insurance companies operating in the Egyptian market.
Walid Seyed Mustafa, member assigned toMedi Insurance CompanyIn private statements, the Board of Directors of the company adopted the decision to increase capital and is in the process of taking its own actions, thereby supporting its expansionist plans and enhancing its financial viability, and enabling it to expand its various insurance services.
Instructions of the General Financial Control Board
It was within the framework of the firm ' s full commitment to the General Financial Control Board ' s instructions and its desire to strengthen its competitiveness within the Egyptian insurance market, as well as to support sustainable growth plans and increase the volume of work.
It is reported that MDI Insurance is an Egyptian contribution company, established by a decision of the General Financial Supervisory Authority, registered with the Register of Insurance and Reinsurance Companies under No. 42 of 2020. The company also obtained a licence to engage in public insurance activity, property and responsibilities, with a licensed capital of Pound1.5 billion, source and interest capital of Pound150 million prior to the anticipated increase.
Senior contributors :
1. Swedish cement company 25%
National Tamil Company 25%
3. Selected Swedish group businessmen 50%
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