Egypt – Life insurances promising during future years
Tuesday, 04 05 2016, Category: Insurance and Reinsurance, Country: Egypt
Mr. Abdel Raouf Kotb, Chairman of Insurance Federation of Egypt and President of the Federation of Afro-Asian Insurers and Reinsurers said that the opportunities of the life insurance sector will be promising during the next years given that the population of Egypt exceeded 90 million persons.
He added in an interview with “Al Borsa” that the number of insured covered by individual and group policies in Egypt is still limited and does not exceed 5 million individuals.
Mr. Kotb clarified “taking into consideration that 40% of the Egyptian population is below the poverty line and only 20% of the population have the financial capacity to buy insurance, as a result 18 million individuals represent an opportunity for life insurance companies”.
Source: Al Borsa