Compensation paid by Egypt’s insurance companies 16.3% up in 8 months

Compensation paid to clients by insurance companies operating in Egypt surged 16.3 percent during the first 8 months of this year, the country’s market regulator announced on Saturday.

Compensation registered 10.6 billion Egyptian pounds ($657.8 million) against 9.1 billion pounds during the first 8 months of 2018, said the Egyptian Financial Regulatory Authority (FRA) in its monthly report.

“Public and non-life insurance companies operating in the Egyptian market have paid 8-month compensation of 5.4 billion pounds from 4.7 billion pounds during the same period last year, marking a 15.1 percent growth,” FRA said.

Last August, the compensation of public and non-life insurance companies fell 23.5 percent to 519.4 million pounds versus 678.7 million pounds during the same month in 2018.

Compensation registered 10.6 billion Egyptian pounds ($657.8 million) against 9.1 billion pounds during the first 8 months of 2018, said the Egyptian Financial Regulatory Authority (FRA) in its monthly report.

“Public and non-life insurance companies operating in the Egyptian market have paid 8-month compensation of 5.4 billion pounds from 4.7 billion pounds during the same period last year, marking a 15.1 percent growth,” FRA said.

Last August, the compensation of public and non-life insurance companies fell 23.5 percent to 519.4 million pounds versus 678.7 million pounds during the same month in 2018.