Insurance Companies’ Premiums Hit EGP376.3 Mln In March

The Egyptian Financial Supervisory Authority’s (EFSA) monthly report revealed that the Insurance companies posted subscribed premiums (life & Non-life) of EGP 376.3 million during last March, compared to EGP 287.2 million posted in February with a decline rate of 31.02 %.

The number of Non-life insurance policies represent 54.1% out of the total issued policies in March 2013, whilst the volume of the non-life premiums represents 69.2% out of the total premiums that banked up last March.

Last March, Non- Life insurance seized 231.388 thousand policies and its premiums volume worth EGP 260.5 million, compared to 351.65 thousand policies worth EGP 260.5 million in February.

Compulsory motor insurance captured 74.2% of the total policies issued during March 2013, whereas the supplementary motor insurance seized 10.9% of the total issued polices in addition to capturing 24.5% of the premiums volumes.

Fire Insurance captured 32.9% of the total premium volume that banked up in March 2013.