Egypt – Insurance market dances with retentions
Monday, 04 25 2016, Category: Insurance and Reinsurance, Country: Egypt
Government insurance companies raised their retentions of underwritten risks in the property branch during the financial year 2014/2015 reaching 57.7% against 50.6% in the previous financial year. On the other hand, private insurance companies decreased their average retentions from 52.9% to 52.1% during the two years of comparison.
The increase in the retention of government companies and the decrease in the retention of the private sector reflected on the total loss ratios triggered respectively a lost ratio of 57.6% for public companies two years ago (2013/2014) raising to 59% in the past year and a loss ratio of 55.5% in the private sector two years ago decreasing to 52.5% during the two years of comparison.
Source: Al Mal News