Read Full Magazine Here. Royal Insurance Company was established and registered in 2001 as an Egyptian joint stock company between Royal & Sun Alliance Middle East (RSAME) and Egyptian investors under the provisions of Law No. 10 of 1981.
Royal Insurance Company as any insurance company is subject to supervision of Egyptian Financial Supervision Authority (EFSA) and it is also a member of the Egyptian Insurance Federation (EIF).
Royal begun its operations in Egypt as Royal & Sun Alliance (RSA) – Egypt as Joint Stock Company between Royal & Sun Alliance Middle East (RSAME) and Egyptian investors. RSAME has a 51% shareholding and the balance of 49% has been owned by MMID and other Egyptian business entities.
Royal Insurance Company was founded by Hassan Darwish with a group of businessmen and institutions with solvency and confidence locally, regionally and internationally as follows:
Hassan Mohamed Hassan Darwish (Egypt)
Baltan trade group Investment Company Limited (Saudi Arabia), headed by Khalid bin Omar bin Gasser Baltan
Abdul Majeed bin Ibrahim Al-Sultan – Member of the Executive Committee of Bank Al Jazira (Saudi Arabia)
Market Development Co., Ltd. (Saudi Arabia)
Royal Insurance Company has an authorized capital of EGP 400 M whereas its Paid-up capital is EGP 100 M.
The company provides financial protection and peace of mind to all clients whether large, medium or small establishments and individuals. Royal Insurance Company’s aim is to deliver innovation and excellence in its products, services and solutions through high-tech.
Royal is known to be among the top insurance companies in Egypt.
Ahmed Hassan Darwish is a famous insurance personality regionally who brings a deep specialization in capital markets and reinsurance convergence.
Ahmed Hassan Darwish’s story is a success story that is full of dedication to the industry and the entire MENA region during a very challenging time where he proved his courage, perseverance, wise vision and outstanding victory.
Presently, Hassan Mohammed Hassan Darwish holds the position of Chairman & Chief Executive Officer at Royal Insurance Co. and Chairman of Maccor for Securities Investments Co. Darwish is also on the board of Palm Hills Development Co. and Insurance Institute of Egypt and Executive Vice President for El Mansour & El Maghraby for Investment & Development Co.
Hassan Mohammed Hassan Darwish received an undergraduate degree from Alexandria University.
Saying the above, it is important to mention that vulnerable populations in particular, who most feel the impact of volatile energy prices and their impact on other basic goods and services, must have a strategic focus in a transition to sustainability that is equitable in value and scalable in impact. A key facet of this involves defining financial mechanisms to help vulnerable consumers cope with economic shocks and this is an important target that Royal focusses on.
Decades of rising inequality in advanced markets take USD 252 billion toll on insurance protection, leaving households more vulnerable in current cost-of-living crisis as per Swiss Re Institute.
A large percentage of workers and firms operate in the informal economy, outside the line of sight of governments in emerging markets and developing economies. This may hold back the recovery in these economies from the deep recessions caused by the COVID-19 pandemic—unless governments adopt a broad set of policies to address the challenges of widespread informality.
Challenges and Policies is the first comprehensive analysis of the extent of informality and its implications for a durable economic recovery and for long-term development. It finds that pervasive informality is associated with significantly weaker economic outcomes—including lower government resources to combat recessions, lower per capita incomes, greater poverty, less financial development, and weaker investment and productivity.
Egypt is in midst of construction boom which is leading to sustainable development.
BL: Africa specialty risks ups energy capacity to $38m, what are your comments?
Ahmed Hassan Darwish: Africa is endowed with abundant renewable energy sources, upon which it can sustainably base its ambitious socio-economic development and ASR will support energy offerings which will provide profound welfare and environmental benefits to people across the continent.
BL: Shaping a balanced and effective energy transition is possible but requires new collaboration at supply and demand levels, what are the suggested collaborations and how insurance can help?
Ahmed Hassan Darwish: Work towards establishing an energy transition policy with significant reduction in energy bills and industrial costs. Improved competitiveness. Reduced dependency on imported energy with an associated reduction in costs which will lead to greater energy efficiency.
BL: Why is Royal Insurance Company dedicated to go beyond the expectations?
Ahmed Hassan Darwish: We at Royal Insurance-Egypt’s main mission is to provide financial protection and peace of mind towards all of our clients whether large, medium or small establishments and Individuals. Our aim is to deliver innovation and excellence in our products, services and solutions through high-tech.
Our mission is to give our clients and business partners A promise; a promise of financial security and protection towards our clients and fairness to our agents, respect and opportunity in favor of our employees. .We are dedicated to going beyond the expected to gain our clients unlimited trust.
We are committed to bringing quality products and services, we will hopefully remain flexible and innovative so we are able to address the changing needs of our customers.
BL: What are your forecasted plans for the year 2022?
Ahmed Hassan Darwish: Our target was by the end of 30/6/2022 was to achieve a total premium of 1 Billion EGP and we were actually able to achieve the set target, our upcoming plan for the year 2022-2023 is to achieve a total premium of 1.3 Billion EGP.
In addition we were able to acquire a share of the major projects such as:
Project Name
Siemens Gamesa Renewable Energy Eolica - MBD of Wind Farms
El-Sarai Project ( Residential Buildings) - Gama Construction
Construction of new headquarter of Central Bank of Egypt - KBA-Notasys Egypt LLC
Egy Tech Cables- El Sewedy- Seventeen main power stations (Transformers)
(SWRO ) Desalination plant located in Al Arish North Sinai the plant capacity - JV Orascom Construction – METITO
El Sewedy Electric Power Systems Project-Construction of Galawa Hotel in Grande Comoros
20MWp Grid-Tied PV Power Plant with 35 MWhr Battery storage - South Sudan - El-Seweedy Electric
The design, supply, procurement, construction and delivery of le Galawa hotel resort in the site of Galawa in Comoros islands (Offshore and Onshore works) - El Sewedy Electric Power Systems Projects
El Sewedy Electric for transmission and Distribution of Energy S.A.E.-PV Power Plant with 35 MWhr Battery storage- South Sudan
BL: The current energy crisis reveals just how important energy is to people and the economy, how critical is it to tackle the structural risks that have become evident while also increasing momentum on climate action?
Ahmed Hassan Darwish: Energy is one of the most important inputs for economic development, the use of energy drives economic productivity and industrial growth. Energy enables the continuity and long- term nature of the entire economic activity, without it the economy would not be possible at all.
The global climate is changing and that is posing increasingly severe risks for ecosystems, human health and the economy. Adapting to climate change are key challenges of the 21st century, the overall energy consumption and our dependence on fossil fuels. To succeed in limiting global warming, the world urgently needs to use energy efficiently while embracing clean energy sources.
BL: Is there a need to protect consumers and ensure affordable access to insurance in Egypt and elsewhere?
Ahmed Hassan Darwish: The need for insurance has been increasing within the Egyptian market, due to the recent increase in prices all over the world people realized the importance of protecting their assets.
BL: How was the Egyptian insurance industry performance for the year 2021 and what about Royal?
Ahmed Hassan Darwish: The insurance industry is thriving within each year due to the demand from both the consumers side and the fact that the government in enforcing compulsory insurance in several fields.
20- Electric vehicle insurance policy to be introduced in Egypt, what is your opinion and how beneficial to the insurance companies?
We Royal Insurance are already one of the top insurer for Infinity; Infinity is Egypt’s leading renewable energy solutions provider, Infinity’s EV charging network now has more than 300 charging points across 10 governorates. And with the increasing demand for electric vehicles, it’s predicted that most of the insurance companies will proceed with preparing the needed policy.
BL: The New Delta project is one of the mega projects in the agricultural field, do you have any plans in this regard? Are you interested in agricultural insurance?
Ahmed Hassan Darwish: We are actually interested in agricultural insurance and in fact we are in contact with several of our re-insurers to provide the needed coverage.
