Egypt – EGP 22 billion insurance premiums
Monday, 12 04 2017, Category: Insurance and Reinsurance, Country: Egypt
Mr. Alaa Al-Zoheiry, chairman of the Insurance Federation of Egypt (IFE) revealed that he expects the premiums of insurance companies to reach EGP 22 billion by the end of the past month of June against EGP 18.6 billion by the end of year 2016 i.e. a growth of 22%. He added that a large part of premium increases is related to the liberalization of the EGP exchange rate and the reevaluation of assets such as vehicles, which led to increases in premiums even though insurers were affected by price increases of spare parts as well as increases in the prices of pharmaceuticals and medical supplies.