Arab Misr Insurance Group

Company Description

Arab Misr Insurance Group “gig” is an Egyptian Insurance company established in 1994 under the Egyptian Insurance Law No. 10 of 1980, gig is a member of the Egyptian Insurance Federation and started business since July1st , 1994 . Issued Capital is EGP 500 Million . Paid up capital is EGP 90 Million. Milestones : 2009 : gig was the 1st insurance company in the Egyptian market in both underwriting & Technical results ( EFSA report on 30/6/2009 ) 2010 : gig was the first in growth ratio in Egyptian Market 2011 : gig gets its first financial rating by A.M.Best and becomes the only rated Egyptian Insurance company in the local market . Arab Misr Insurance Group Rating : ِ gig is rated a Financial Strength Rating B++ and Issuer Credit Rating BBB+ by A.M.Best .. The outlook for both ratings is stable . The ratings of gig reflect its good level of risk-adjusted capitalization , good financial performance and improving business position in Egypt . The main shareholders of gig are:- 1. Gulf Insurance Company (Kuwait ) Major contributor with 94.8 %.