Egypt – Demand for marine insurance down by 20%
Wednesday, 08 17 2016, Category: Insurance and Reinsurance, Country: Egypt
Insurance companies decreased the prices of marine cargo insurance by 10% in the past months in order to cope with the decrease in demand for such coverage.
Mr. Hossam Olama, general manager of marine insurance sector at Misr Insurance said that the demand for marine cargo insurance in both inland and marine decreased by 20% during the past year.
He added in an interview with “Logistic” that demand for insurance coverage decreased due to the import and export trends, the Egyptian Pound depreciation, and difficulty in securing foreign exchange.
Source: Al Borsa