Sarwa Capital to invest EGP 200 mn to establish insurance companies

Sarwa Capital is planning to establish two separate life and insurance companies, each of which will have a capital of around EGP 100 mn, CEO Hazem Moussa tells Al Mal. Sarwa has received preliminary approval from the Financial Regulatory Authority for the planned companies, whose establishment is part of the company’s expansion strategy that includes new services such as factoring, leasing, and consumer financing. Sarwa plans to launch factoring services sometime in 2H2018, Moussa said.