Egypt – Relationship with reinsurers negatively affected by Fire results
Thursday, 11 19 2015, Category: Insurance and Reinsurance, Country: Egypt
The losses of the Fire insurance branch were volatile in the years following 2010 where the loss ratio at the market level reached 187%.
Mr Abdul Raouf Kotb President of the Insurance Federation of Egypt said that the relationship of the Egyptian companies with foreign reinsurers was negatively affected by the technical results of the Fire branch.
He added in a seminar conducted by the general reinsurance committee of the Federation that despite the availability of a very large underwriting capacity and the entry of new capitals in the reinsurance sector globally, these reinsurers perceive negatively the Egyptian market because of the adverse results.
Source: Al Borsa News