EFSA Says EGP15bln Expected Premiums of Insurance Sector by June-End

Deputy Chairman of Egyptian Financial Supervisory Authority (EFSA) Mohamed Maait said the size of premiums which may be attained in insurance sector by June-end reached up EGP15 billion, move up by 17.2% growth rate.

EFSA announced in the previous fiscal year that the size of the attained premiums  boosted with 16% growth rate, to eventually record EGP12.791 billion at June-end in compared to EGP11.022 billion in the previous period.

Speaking to Amwal Al Ghad Arabic’s Website, Maait said it is expected that the investments of insurance sector will rise to EGP45 billion in compared to EGP42.339 billion, move up by 6.3% growth rate.

The insurance sector witnessed many challenges during the ongoing year representing in the economic deterioration that experienced by the Egyptian market, Maait added.

Furthermore, insurance companies started facing the previous challenges through developing the insurance products along with following new marketing methods that contribute in alluring new categories including banking insurance.