Takaful premiums in Egypt reach 2.3 bln pounds at July-end

The premiums of Egypt’s Islamic insurance, or takaful sector registered 2.3 billion Egyptian pounds ($130.1 million) during the first seven months of the year.

The life takaful firms posted premiums worth around 1.2 billion pounds, at the end of last July, accounting 9.5 percent of the Egyptian insurance market share.

The property takaful firms in Egypt made premiums of around 1.1 billion pounds, a recent report by the Egyptian Financial Supervisory Authority (EFSA) showed on Sunday.

The premiums were mainly focused on complementary motor insurance of a 23.6 percent share, fire insurance of around 18 percent, accidents of 16 percent, and engineering insurance of 15 percent, the report added.