Egypt – Takaful insurance growth at 20%
Friday, 12 30 2016, Category: Insurance and Reinsurance, Country: Egypt
Dr. Mohamed Youssef, the chairman of the Misr Insurance Holding said that a new Property Takaful insurance company will be established and he also expects to establish a Life Takaful insurance company indicating that the growth rates of Takaful in the Egyptian and Arab markets are higher than other business. He clarified that the growth rate of Takaful reached 20% with a minimum of 12% growth whereas the growth rate of conventional insurance is between 5% and 8%. Therefore, figures show a large demand for Takaful insurance.