Learned "money" that the Board of Directors of Delta Insurance Company has agreed in its meeting held on the establishment of an independent company for the capital of life insurance will be not less than 60 million pounds to comply with legislative amendments that have committed all the companies to separate the activity of life insurance for property insurance.
He said one of the members of the Board of Directors of the Delta to ensure that the decision to establish the new company came in response to a letter sent by the Egyptian Authority for the Supervision of Insurance, which called for the officials of the company to identify their position on the separation of my life and property.
It is known that the activity of insurance is divided into two sections: the life insurance and related documents in this section of individuals, which covers the risk of death, disability and general insurance branch and includes all the documents that provide compensation for any loss of property clients.
He told the source of "money" that there are some other reasons that prompted the board of directors of Delta to agree to the establishment of an independent firm of life insurance, including the difficulty of applying the proposal to merge the companies was the governor of Al-Hayat, the Suez Canal and the Delta and the establishment of an independent entity in addition to the company's initiative to secure the Suez Canal, the declaration independent company founded on the life insurance capital of up to 60 million pounds.
The source added that the meeting of the Governing Council yesterday failed to address the process of financing the capital, but only to the approval of the establishment of the new company, pointing out that the budget presentation of the company in the period from July 1, 2008 until December 31 of the same year and sent for ratification by each of the Egyptian Insurance Supervisory and the Capital Market Authority.
He said one of the members of the Board of Directors of the Delta to ensure that the decision to establish the new company came in response to a letter sent by the Egyptian Authority for the Supervision of Insurance, which called for the officials of the company to identify their position on the separation of my life and property.
It is known that the activity of insurance is divided into two sections: the life insurance and related documents in this section of individuals, which covers the risk of death, disability and general insurance branch and includes all the documents that provide compensation for any loss of property clients.
He told the source of "money" that there are some other reasons that prompted the board of directors of Delta to agree to the establishment of an independent firm of life insurance, including the difficulty of applying the proposal to merge the companies was the governor of Al-Hayat, the Suez Canal and the Delta and the establishment of an independent entity in addition to the company's initiative to secure the Suez Canal, the declaration independent company founded on the life insurance capital of up to 60 million pounds.
The source added that the meeting of the Governing Council yesterday failed to address the process of financing the capital, but only to the approval of the establishment of the new company, pointing out that the budget presentation of the company in the period from July 1, 2008 until December 31 of the same year and sent for ratification by each of the Egyptian Insurance Supervisory and the Capital Market Authority.
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