Orient Insurance wants to launch a new life insurance company in Egypt

The UAE insurer Orient Insurance has decided to set up a new life insurance company in Egypt. An application for approval has been filed with the Egyptian Financial Regulatory Authority (FRA).

The paid-up capital of the future entity has been estimated at more than 100 million EGP (12.42 million USD).

Pursuing its expansion strategy, Orient Insurance will inaugurate a new branch in Bahrain next month. The group, which is already present in Oman, Turkey and Sri Lanka, has announced its intention to penetrate the Qatari and Algerian markets.