ArabFinance: The board of directors of Delta Insurance (DEIN) approved to call for holding the extraordinary general meeting (EGM) to decide on the proposal of raising issued and paid-up capital, according to a statement filed to the Egyptian Exchange (EGX).

The board previously nodded to increasing the company’s issued and paid-up capital to EGP 350 million from EGP 126 million,

Accordingly, the board agreed on the amendment of Articles 6 and 7 of the company’s Articles of Association.

It is worth noting that Delta Insurance previously reported a consolidated net profit before minority interest of EGP 232.14 million for fiscal year (FY) 2020/2021, compared to a profit of EGP 180.05 million in FY 2019/2020.

Delta Insurance is engaged in the provision of life and non-life insurance and reinsurance services.

The company offers its services through two main segments: Corporate Solution Plans, and Individual Protection Plans, and Aman El Safar Plan.