Egypt News

ACE International, ACE Limited’s international operations division, has acquired a 51 percent interest in Egyptian American Insurance Co.(EAIC) in partnership with Egypt’s Commercial International Investment Co. (CIIC). ACE acquired EAIC from Egypt’s second largest private insurer, AL CHARK for an …

Germany’s Allianz AG acquired a controlling 80 percent interest in Cairo-based Arab International Insurance Company (AIIC) by purchasing the 40 percent share held by France’s AXA. In 1998, AIIC reported gross premium income of $10 million and more than $1 …