Egypt – 25% inflation-related premium increase expected
Tuesday, 11 01 2016, Category: Insurance and Reinsurance, Country: Egypt
Managers of insurance companies expect the value of insurance premiums to increase between 15% to 25% during next year’s renewals of insurance contracts due to the increase in the value of insured assets, which is directly caused by inflation rates brought about by the depreciation of the Egyptian pound.
Officials advised customers and companies in the sector to reevaluate the value of owned properties in light of the expected increases and the move of the central bank toward depreciating the local currency.
Source: Al Borsa