The outcome of direct premiums at AXA Investment Egypt, which includes AXA Property and AXA Life Insurance, exceeded EGP 1bn. AXA increased CIL’s capital by EGP 150m after the acquisition, boosting the paid-up capital of AXA Life Insurance to EGP 300m. Premiums of AXA Property approached EGP 100m by the end of the past fiscal year. AXA Life Insurance plans to offer individual policies at CIB branches nationwide in 2017. Is AXA Investment Egypt seeking to increase the capital of any of its subsidiaries during the current fiscal year?

Source: Daily News Egypt December 05, 2016 06:21 UTC