Announced dr. Atef El-Zibaq, Managing Director of Delta Life Assurance Company, announced the approval of the Financial Supervisory Authority to increase the issued and paid-up capital of the company to 250 million EGP.

Al-Zibaq said that the FRA agreed to amend Articles 6 and 7 of the Articles of Association of the Delta Life Assurance Company, so that the authorized capital of the company was set at 300 million EGP, and the company’s issued capital was set at 250 million EGP, distributed over 62.5 million shares, the value of which is 4 EGP each. With an increase of 50 million EGP, it was distributed over 12.5 million shares, the value of each being 4 EGP, paid in full.

According to the decision of Dr. Muhammad Farid, Chairman of the Authority and Issued No. 537 of 2023 - Dr. explained. Atef El-Zibaq - All shares of Delta Life Assurance are nominal, and the company's capital consists of 62.5 million shares. The founders and subscribers have subscribed to the company's capital with 62.5 million shares, with a value of 250 million EGP. The company’s capital was increased according to the shareholders’ share set aside from the dividends by 50 million EGP, bringing the total amount of the company’s issued and paid-up capital increase through bonus shares to 50 million EGP funded by dividends, thus increasing the company’s issued and paid-up capital from 200 million EGP to 250 million. fairy.

On the other hand, Dr. revealed. Atef El-Zaybak, on targeting his company within the framework of the plan set to achieve total premiums at a value of 400 million EGP during the fiscal year 2022/2023, adding that his company is based in its strategy during the next stage on diversifying its insurance portfolio and introducing new products, in addition to working on geographical expansion to increase the company’s customer base. Pointing out that this comes in parallel with the implementation of the company's digital transformation to keep pace with global developments in the insurance industry and in line with the state's vision for the coming period, indicating the company's determination to work on the technical and administrative development of the company, in addition to strengthening the company's financial solvency and increasing its technical allocations.

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