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Egypt proposes fresh laws to open up to foreign underwriters.
(From Lloyds List)
Byline: Lord Mayor of London is encouraged by plans to foster closer links with the UK
EGYPT is set to open the doors wider to foreign insurance companies and to double the participation of the specialist sector in its huge economy, writes James Brewer .
Plans on the drawing board have impressed the Lord Mayor of London, David Brewer, during the first of a series of foreign trips he plans during his year of office.
For many years a leading personality in marine and non-marine insurance in the City, Mr Brewer has pledged to spread the message of London's eagerness to co-operate with overseas interests, and facilitate new links.
Mr Brewer, who was accompanied on his visit to Cairo by George Kabban of United Insurance Brokers, said Cairo was fast becoming the regional financial hub.
There were plans to put a draft law incorporating important changes before parliament in the next couple of months.
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