Insurance Premiums Post EGP 234.2 Mln In September: EFSA

The Egyptian Financial Supervisory Authority (EFSA) reveals the results of insurance companies in September as they posted EGP 234.2 million as underwritten premiums, compared to EGP 664.2 million underwritten premiums in August, registering a retreat of 64.7%.

Non-life insurance policies accounted for 86.2% of the number of policies signed in September and non-life premiums accounted for 85.7% of the number of premiums collected in September.

The report attributes such retreat in non-life premiums to the decline in marine and inland transport insurance premiums achieved by Delta Insurance Company.

There were 230,353 non-life insurance policies signed in September with premiums of EGP 200.8 million, compared to 174,116 non-life insurance policies signed in August with premiums of EGP 637.7 million.

Compulsory motor insurance sector accounted for 72% and supplemental vehicle insurance sector accounted for 12.3% of the number of policies issued in September.

Supplemental motor insurance premiums accounted for 29% and compulsory vehicle insurance premiums accounted for 20.93 % of the total value of premiums collected in September.