Egypt – 20% growth of Engineering premiums in 4 years
Monday, 09 26 2016, Category: Insurance and Reinsurance, Country: Egypt
Insurance companies realized 20% growth in engineering insurance premiums during the past 4 years from the financial year 2011-2012 to the financial year 2014-2015.
Dr Abdel Rauf Qutb the president of the Insurance Federation of Egypt and Managing Director of Egyptian Saudi Insurance House said at the margins of an engineering insurance workshop organized by the Federation in collaboration with Gras Savoye and Continental Reinsurance that engineering insurance premiums reached EGP 774 million by the end of June 2015 compared to EGP 626 million by year end 2012.
He added that engineering insurance is different from other insurance classes since the contract ends with the end of the engineering project compared to other insurance branches, which can be renewed.
Source: Al Borsa News