12% share of “Takaful insurance” in Egypt
Tuesday, 11 03 2015, Category: Insurance and Reinsurance, Country: Egypt
Mr. Sherif Samy the chairman of Egyptian Financial Supervisory Authority revealed that the share of Takaful insurance companies during the first eight months of the current year represented 12% of the total insurance market in Egypt where 32 companies operate of which 8 work under the Takaful form.
Mr. Samy indicated in a press release, on Monday, that the premiums written by Takaful insurance companies in the personal lines (life), i.e. new and in-force business reached EGP 804 million which represents 11% of personal lines insurance in the Egyptian market which reached EGP 7.5 billion.
Concerning new and renewal premiums written in the property lines, the Takaful par reached EGP 610 million, which represents 14.8% of property lines in Egyptian market which reached EGP 4.1 billion.
Source: Al Mal News