Article: Global Briefs.(Brief Article)

American International Group Inc. has purchased a 90% stake in Cairo, Egypt-based non-life and reinsurance company Pharaonic Insurance Co. S.A.E. ``The market for property/casualty insurance in Egypt is substantial, with considerable growth potential as the Egyptian economy continues to liberalize and expand,'' said Martin J. Sullivan, AIG executive vp-foreign general insurance....New York-based reinsurance broker Guy Carpenter & Co. Inc. has opened an office in Hamilton, Bermuda. Salvatore Zaffino, chairman and chief executive officer of Guy Carpenter, said the new office will help the broker take advantage of the growing business opportunities in Bermuda and will give a ...

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