Egypt – Health insurers to overcome losses in 2018
Monday, 03 19 2018, Category: Insurance and Reinsurance, Country: Egypt
The insurance companies and health care management companies were able to overcome the effects of the liberalization of the Egyptian pound exchange rate, which triggered large increases in health insurance prices during year 2017.
Dr. Ehab Abul-Magd, Chairman of Egyptian Health Care Management Society and Chairman & CEO of Platinum for Health Care said that he is optimistic for year 2018 as insurance companies and health care companies were able to absorb the shock of year 2017 when the Egyptian pound exchange rate was liberalization and the cost of health insurance went up. In fact, insurers were governed by contracts with customers at a specific price. Therefore, they had to bear losses. As a result they had to raise prices by at least 65% at renewals in order to recover and achieve a profit margin in year 2018.
Source: Al Mal News