Egypt – Property insurers raise prices
Wednesday, 01 10 2018, Category: Insurance and Reinsurance, Country: Egypt
Insurance sector officials said that the increase in the technical loss ratios of insurance companies led them to increase the prices of cover by 15% to 20%.
Moreover, officials confirmed that the companies are requested to review prices regularly and soundly in order to protect the rights of policyholders and achieve acceptable profits.
Furthermore, experts noted the property insurance loss ratios reached 200% especially in fire insurance, so it is necessary for insurers to conduct actuarial studies in order to determine adequate technical prices in addition to the price increases related to the exchange rate such as in medical and motor insurance.