Egypt – EGP 17 billion premiums in 6 months
Tuesday, 09 05 2017, Category: Insurance and Reinsurance, Country: Egypt
Insurance companies wrote premiums amounting to EGP 17 billion in the first half of the current year with a 54.5% growth compared to the same period last year when premiums reached EGP 11 billion.
The monthly report of the Egyptian Financial Supervisory Authority revealed that new and renewed premiums of property and liability insurance reached EGP 3.4 billion during the first six months of last year and increased to EGP 5.9 billion in the first half of the current year i.e. an increase of EGP 2.5 billion due to the increase in insured amounts, which helped premiums to increase following the liberalization of the exchange rate last November.
According to the report, the comprehensive motor has the largest market share representing 22.2% of premiums, followed by fire insurance 17%, oil at 12.6% and miscellaneous accidents 10.8%.
Source: Al Borsa News