Care Plus Insurance targeting boosting premiums to reach EGP75m
Managing Director of Plus Insurance Company Hesham Maged revealed to Amwal Al Ghad that Egypt’s Care plus Health Care Insurance Company written total premiums of around EGP52m during the last fiscal year of 2013/2014. Maged asserted that Care Plus is targeting boosting premiums to reach EGP75m by the end of the current fiscal year of 2014/2015. The company’s paid up capital was increased to EGP5m during the last month, noting that Care Plus plans to rise it to EGP7.5m. Egyptian Financial Supervisory Authority (EFSA) has previously announced a number of amendments in supervisory and regulatory medical insurance, most notably the inception of specialised insurance companies at minimum capital up of EGP15m as well as the establishment of firms for managing health care system as pursuant to the TPA system at EGP4m capital.