Egypt – Insurance premiums will increase by 30% with EGP liberalization
Friday, 11 04 2016, Category: Insurance and Reinsurance, Country: Egypt
Insurance experts agreed that the decision to liberalize the Egyptian Pound will have a positive impact on the insurance sector and will help premiums grow by 25% to 30% during the next period and will help secure foreign currencies. This will also help clients pay premiums and compensate for the lost business of some commodities, which are no longer imported for 3 months as well as offering investment opportunities related to the increase in interest rate by 300 basis points.
They added that the country needs to introduce investment incentives in order attract foreign investments, boost tourism, decrease import activities and increase exports in order to avoid the USD crisis.
Source: Amwal Al Ghad