Egyptian insurance companies’ premiums 19.7% up in Q3

The premium portfolio of insurance companies operating in Egypt grew 19.7 percent year-on-year during the third quarter this year, recording 9.1 billion Egyptian pounds ($567.3 million).

Earlier, premiums stood at 7.9 billion pounds during the third quarter of 2018.

Commercial insurance companies’ third-quarter premiums rose 15 percent to 7.7 billion pounds from 6.69 billion pounds during the same period in 2018.

Takaful insurance companies also achieved premiums worth around 1.46 billion pounds during the same quarter of the current year against 989.8 million pounds last year, marking a 47 percent surge.

Non-Life insurance companies’ premiums increased to about 4.06 billion pounds versus 3.6 billion pounds during the third quarter of 2018.

Life insurance companies’ third-quarter premiums climbed to 5.1 billion pounds, compared with 4 billion pounds during the same period last year.