Catalyst Partners acquired 25% of Public Partners Insurance Brokerage (PPIB). Through this partnership, Catalyst will expand its activities further from its non-banking financial and small and medium family businesses and entrepreneurship investments.
“This partnership enhances the company’s growth strategy and supports its clients from the non-banking financial sector, and the direct investment portfolio sector, by providing a mixture of innovative services between financing and insurance,” Maged Shawky, Catalyst Partners Chairman, said.
“The company was established in 2011, and is an agent for all insurance companies in Egypt and provides services in all insurance branches from property, life and medical insurance, and manages the insurance portfolio for more than 550 Egyptian companies and institutions. It was able to cover assets of more than 390 billion pounds,” Mohamed Al Maghraby, PPIB Chairman, said.
Catalyst Partners aims to expand PPIB’s client base through this partnership by providing integrated insurance services to Catalyst Partners clients and providing innovative and new financing services to Public Partners clients.
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