BOARD OF DIRECTORS
Mr. Hany EL DANA - Chairman
Mr. Fateh BEKDACHE - Vice Chairman and Managing Director
Mr. Habib RAHAL - Member
Mrs. Maya AL KADY - Member
Mr. Tarek METWALLY - Member

GENERAL MANAGEMENT
Mr. Michael KELADA - Assistant Managing Director

BOARD OF DIRECTORS
Mr. Hany EL DANA - Chairman
Mr. Fateh BEKDACHE - Vice Chairman
Mr. Habib RAHAL - Member
Mrs. Maya AL KADY - Member
Mr. Tarek METWALLY - Member

Services:

Arope Insurance, member of BLOM Bank Group, was granted approval from the Egyptian Insurance Supervisory Authority to establish two insurance companies, Arope Egypt for Life Insurances and Arope Egypt for Property Insurances.

This event is of utmost importance, given that these two companies will be the first to enter Egypt’s commercial insurance sector, where the demand has been for a long time restricted to the establishment of cooperative insurance companies.

The capital of each company is EGP 100 million (the equivalent of USD 17.54 million for each company), and its ownership is distributed among the shareholders as follows:

• Arope Egypt for Life Insurances:
• Arope Insurance (Based in Lebanon) : 80%
• BLOM Bank Egypt: 15%
• BLOM Egypt for Stock Exchange:5%

• Arope Egypt for Property Insurances:
• Arope Insurance (Based in Lebanon) : 60%
• BLOM Bank Egypt: 35%
• BLOM Egypt for Stock Exchange: 5%

Both companies will receive full support from Arope Insurance in the fields of technical expertise, training human workforce and strengthening work basics, based on the latest work programs in the insurance domain. BLOM Bank will also play a major part in promoting the insurance products according to Egypt’s Bancassurance system.

Founding these two companies comes within the regional expansion plan that Arope Insurance has been adopting, and which started in Syria with the establishment of Syria International Insurance (Arope Syria).

Address:

Headquarters
8 Gezirat El Arab, Mohandeseen, Egypt