Contributions of the Misr Insurance Company to the national economy from the establishment to the nationalization

The pioneer of the national economy in his time presented Talaat Harb, motivated by his patriotic spirit and his economic awareness of the importance of establishing a national insurance company, for several aspects: on the one hand, facing foreign control of this activity and the extent of the shamness of Egyptian-shaped companies, but they are hollow in substance, and on the other hand, to benefit from this activity to secure bank companies Egypt and the contribution to insurance on Egyptian companies and individuals, so his quest resulted in the establishment of the first national insurance company in the name of the Misr General Insurance Company in 1934, whose name was modified in 1942 to the Misr Insurance Company, which was distinguished by its national character and for its importance only Talaat Harb managed it himself.
The company made a significant and noticeable contribution and formed a mainstay in the industrial and commercial fields, providing them with the means to ward off the impact of disasters that fall upon them from dangers or exposure to them.
It also employed the large reserves that had accumulated over the years of the company’s life and directed them to finance giant investment and industrial projects as an element of national capital formation. It participated in the revival of the national economy on a strong and solid basis since the beginning of the July 1952 revolution, so it participated in the establishment of iron and steel companies. , public housing, Egypt for hotels, the Egyptian chemical industries, the national cement production, Egypt for foreign trade, ...).
On another level, I participated in insuring the project to generate electricity from the Aswan Reservoir, as a contribution to strengthening the country's economy. It was one of the most important projects undertaken by the government of the revolution. When my grandfather was grandfather, I participated in insuring the High Dam project despite the great risks that it was expected.
The company invested its money in contributing with the government in the implementation of its various urban projects, so it loaned the Ministry of Foreign Affairs to build embassies abroad to provide the value of the exorbitant rents borne by the state budget, and it loaned the Cairo Municipality to be used in the implementation of the municipality project to improve the Cairo water facility, and contributed to the loan provided to the company Egypt for Hotels to use it to complete the company’s business, including foreign currency returns to the country.