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Monday, 4 March 2019

Sarwa Capital acquires licenses for life and non-life insurance products

Sarwa Capital acquires licenses for life and non-life insurance products: Consumer- and structured-finance player Sarwa Capital Holding has acquired licenses from the Financial Regulatory Authority (FRA) to begin offering life and non-life insurance policies, the company announced in a statement (pdf). The company will provide insurance through two separate entities: Sarwa Insurance Company will offer property and liability insurance, and Sarwa Life Insurance Company will provide life and health insurance, as well as long-term savings products. The two new companies were incorporated in 2018 following preliminary approval from the FRA and the General Authority for Freezones and Investment (GAFI). Each entity will have initial capital of around EGP 100 mn.

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