Egypt - Takaful premiums jump to EGP 5.4bn in 8M
Tuesday, 10 29 2019, Category: Islamic Banking, Country: Egypt
Takaful insurance premiums in Egypt surged by 116.4% year-on-year during the first eight months of 2019, Akhbar El-Yom reported on Sunday, citing the Financial Regulatory Authority’s (FRA) chairman Mohamed Omran as saying.
Life and property takaful insurance premiums increased to EGP 5.4 billion during the January-August period of 2019, compared to EGP 2.5 billion in the year-ago period, Omran added.
Meanwhile, the value of compensation paid by takaful insurance companies amounted to EGP 928.6 million during the eight-month period ended 31 August, rising by 56.9% year-on-year from EGP 591 million, he revealed.