Egypt’s insurers issue $12 mln micro-insurance policies at March-end: sources

Big 5

A bunch of Egyptian insurance companies issued micro-insurance policies worth around 205 million Egyptian pounds ($12 million) at the end of the first quarter of the current year, according to sources.

“Egypt’s insurers succeeded in issuing micro-insurance policies to 20,004 clients at the end of last March, with premiums totalling1.02 million pounds,” said the sources in the Egyptian Financial Supervisory Authority (EFSA) on Saturday.

Moreover, EFSA’s one of its strategies focuses on micro-insurance activities to support insurance companies’ business volume in order to increase premiums to 50 billion pounds within the next four years, they told Amwal Al Ghad.

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