The Egyptian market does not attract “reinsurers”
Tuesday, 07 21 2015, Category: Insurance and Reinsurance, Country: Egypt
The Insurance Federation of Egypt revealed the restrictions insurance companies and insurance associations face when dealing with reinsurance companies. It says that the Egyptian insurance market under the current economic and political conditions does not attract large reinsurance companies that have a high solvency and a high rating.
The Federation added in a report that most reinsurers dealing with the Egyptian market use proportional and non-proportional reinsurance treaties. These are regional companies based in the Arab countries, and Indian companies in addition to two companies from the African continent confirming that these companies are exposed to high risks because of the political situation faced in a number of Arab countries.
Source: Veto Gate