Back to the complete issue
Monday, 28 May 2018

Shakeup at the board of Misr Insurance ahead of EGX Listing

MOVES- Shakeup at the board of Misr Insurance ahead of EGX Listing: Public Enterprises Minister Khaled Badawy issued a decree ordering the shakeup of the board of directors of Misr Insurance Holding Company on Sunday, Ahram Gate reports. This move, which reduced the number of board seats to seven from a previous nine, saw the appointment of Tamer El Batesh as acting chairman of Misr Insurance. El Batesh was managing director at the Egyptian Gulf Holding for Financial Investments, a subsidiary of EG Bank. Banque Misr Vice Chairman Akef El Maghraby and Banque du Caire’s head of risk, Hala Al Qassar, are among the new board appointees. The shakeup comes ahead of an EGX Listing as part of the state privatization program. Misr Insurance’s extraordinary general meeting approved last week plans to list the company.

Enterprise is a daily publication of Enterprise Ventures LLC, an Egyptian limited liability company (commercial register 83594), and a subsidiary of Inktank Communications. Summaries are intended for guidance only and are provided on an as-is basis; kindly refer to the source article in its original language prior to undertaking any action. Neither Enterprise Ventures nor its staff assume any responsibility or liability for the accuracy of the information contained in this publication, whether in the form of summaries or analysis. © 2022 Enterprise Ventures LLC.

Enterprise is available without charge thanks to the generous support of HSBC Egypt (tax ID: 204-901-715), the leading corporate and retail lender in Egypt; EFG Hermes (tax ID: 200-178-385), the leading financial services corporation in frontier emerging markets; SODIC (tax ID: 212-168-002), a leading Egyptian real estate developer; SomaBay (tax ID: 204-903-300), our Red Sea holiday partner; Infinity (tax ID: 474-939-359), the ultimate way to power cities, industries, and homes directly from nature right here in Egypt; CIRA (tax ID: 200-069-608), the leading providers of K-12 and higher level education in Egypt; Orascom Construction (tax ID: 229-988-806), the leading construction and engineering company building infrastructure in Egypt and abroad; Moharram & Partners (tax ID: 616-112-459), the leading public policy and government affairs partner; Palm Hills Developments (tax ID: 432-737-014), a leading developer of commercial and residential properties; Mashreq (tax ID: 204-898-862), the MENA region’s leading homegrown personal and digital bank; Industrial Development Group (IDG) (tax ID:266-965-253), the leading builder of industrial parks in Egypt; Hassan Allam Properties (tax ID:  553-096-567), one of Egypt’s most prominent and leading builders; and Saleh, Barsoum & Abdel Aziz (tax ID: 220-002-827), the leading audit, tax and accounting firm in Egypt.