Egypt – EGP 14.4 billion premiums until May
Wednesday, 08 02 2017, Category: Insurance and Reinsurance, Country: Egypt
Mr. Sharif Samy, the chairman of the Egyptian Financial Supervisory Authority, announced that the new and renewed premiums of the personal insurance line (Life) reached EGP 9.2 billion during the first five months of this year compared to EGP 6.3 billion during the same period last year, which represents a 46% increase. Moreover, the new and renewed premiums of the property line increased by 85% during the same period i.e. premiums reached EGP 5.2 billion compared to EGP 2.8 billion written until the end of the month of May 2016.
The chairman of the Authority clarified on Tuesday that the comprehensive motor insurance line had the largest share among property lines until the end of the month of May this year i.e. 21% followed by fire insurance at 17%, then oil insurance at 13% and accidents at 10.5%.