A.M. Best Affirms Ratings of Arab Misr Insurance Group S.A.E. [Professional Services Close – Up]
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A.M. Best
According to a release, the outlook for both ratings remains negative.
The ratings of GIG-Egypt benefit from its sound domestic franchise, strong risk-adjusted capitalisation, good track record of technical and overall profitability and its position within
The Egyptian insurance market remains dominated by the public sector, which holds a market share of roughly 54 percent., 3.4 percentage points less than in 2011. The remaining private sector companies remain fairly small; however, GIG-Egypt's profile is considered to be sound and improving. The company currently ranks as the second-largest private sector insurer with an overall market share of 5 percent (4.6 percent in 2011) and almost 11 percent share of private sector business.
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