Egypt – Inflation affects negatively the insurance sector
Monday, 08 29 2016, Category: Insurance and Reinsurance, Country: Egypt
The insurance companies are facing many challenges today due to the inflation rates and the depreciation of the national currency, which decrease the purchasing power of customers who want to buy insurance products and who usually use their excess budget to buy insurance.
Insurance market leaders confirmed the capacity of life companies to deal with these challenges provided they have the adequate tools, indicating that saving products, which guarantee an investment return to the customer, can help overcome the inflation rates that increase from year to year.
Additionally, it is necessary to address other needs such as microinsurance, which can help growth.
Source: Al Mal News