Egypt – Premiums to reach EGP 50 B in 3 years
Friday, 08 24 2018, Category: Insurance and Reinsurance, Country: Egypt
Mr. Alaa Al-Zoheiry, Chairman of the Insurance Federation revealed that the new strategy would help the insurance sector increase its premiums twofold reaching EGP 50 billion compared to the current level of EGP 24 billion. He indicated that the increase in premiums would be generated by the insurance of government assets and the insurance of the professional liabilities of professions such as physicians and engineers as well as the personal accident insurance for school and university students.
He added to “Al Ahram” that the new strategy aims to expand the electronic issuance of insurance contracts, so the Egyptian Financial Supervisory Authority is collaborating with the Insurance Federation of Egypt and already issued authorization in this regard for 10 insurance companies in order to issue insurance contracts electronically for different types of insurance.