Egypt accounts for 28% of Africa Re’s MENA premiums
Egypt accounts for around 28 percent of African Reinsurance Corp’s (Africa Re) earned premiums from North Africa and Middle East markets in 2018.
Last year, the African reinsurer collected premiums worth around $36 million – equivalent to 599 million Egyptian pounds – from insurance companies in Egypt during 2018. Premiums collected from insurance companies in the Middle East and North Africa totalled $128 million – around 2.1 billion pounds – in 2018.
Africa Re’s investments in Egypt made up 72 percent of the reinsurer’s total investments in the region. Investments in Egypt stood at $81.5 million in 2018 as Africa Re invested in banking deposits, government debt instruments, and real estate businesses.
Investments in the Middle East and North Africa reached $108 million, involving banking deposits and government debt instruments.