Lebanon Businessnews News

Chedid Insurance Brokers
licensed to operate in Cairo
Egypt to form a bridge linking Chedid Capital

Africa operations to Middle Eastern presence

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Chedid Capital Holding said its subsidiary Chedid Insurance Brokers-Egypt has been licensed to operate in Cairo.

The license was granted by Egypt’s Financial Regulatory Authority (FRA) two months after the country’s approval of a unified insurance bill that includes specific and comprehensive rules to supervise and regulate the insurance industry.

“Egypt is not a territory or a market we’re adding to our network, it is the strategic bridge between our African operations and our Middle East presence,” said Farid Chedid, Chairman of Chedid Capital.

Chedid Capital entered the African market in 2021 by acquiring Ascoma, a French insurance brokerage group operating in Sub-Saharan Africa. The Chedid Insurance Brokers network has a workforce of more than 300 employees distributed on offices located in Beirut, Cairo, Doha, Dubai, Istanbul, Jeddah, Khobar, Limassol, London, Port Louis, Riyadh and Sharjah.
Date Posted: Jun 20, 2022
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