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Misr Emirates Takaful Life Insurance Co – METLICO history
Misr Emirates Takaful Life Insurance Co – METLICO company history timeline
36 of 2015, commercial registration number 79450 and is one of the subsidiaries of the Islamic Arab Insurance Companies (SALAMA) which has a paid-in capital 1.2 billion AED and its Board of Directors is headed by Sheikh Khalid bin Zayed Bin Saqr Al Nahyan.
METLICO was founded in 2015 and it is an Egyptian joint stock company engaged in Takaful life insurance in the Arab Republic of Egypt.
In 2016 premiums collected by the sector grew by more than 12% over the previous year, and an ongoing reform of the health care sector presents an opportunity for further expansion over the medium term.
A significant development to the market structure in 2016 was the acquisition of global insurer Chubb by competitor ACE to create the world’s largest publicly traded property and casualty insurance company.
The IMF expects Egypt’s GDP growth to increase from 3.5% in 2016/17 to reach 6% over the medium term.
Authorities took their first significant step to reform the health care system in April 2017 when the cabinet approved a national health insurance draft law and referred it to the State Council for legal review.
However, in early 2017 the state-owned Misr Insurance, a main player in the project, revealed that the proposed capital of the new institution is likely to be cut to $50bn, due to difficulties in raising funds.
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Misr Emirates Takaful Life Insurance Co – METLICO may also be known as or be related to Misr Emirates Takaful Life Insurance, Misr Emirates Takaful Life Insurance Co - Metlico, Misr Emirates Takaful Life Insurance Co – METLICO and Misr Emirates Takaful Life Insurance Co – Metlico.