Egypt – Reinsurance commissions decreased
Monday, 07 18 2016, Category: Insurance and Reinsurance, Country: Egypt
International reinsurance companies first warned and pressured the Egyptian insurance market especially property and liability insurers in case they continue to post negative results. However, now the international reinsurers moved to implementing practically these warnings by decreasing reinsurance commissions paid to insurance companies against the business they cede.
The official statistics of the Egyptian Financial Supervisory Authority revealed that reinsurance commissions decreased at 9 insurance companies during year 2015 compared to year 2014.
Source: Al Mal News