Insurance companies’ premiums in Egypt surge 15.6% in four months

Insurance companies operating in Egypt posted premiums worth 12.5 billion Egyptian pounds ($781.7 million) during the first four months this year, marking a 15.3 percent year-on-year growth.

Earlier, premiums registered 10.8 billion pounds during the first four months of 2019.

“Four-month commercial insurance premiums climbed 6.4 percent to 10.2 billion pounds from 9.6 billion pounds during the same period of 2019,” the Egyptian Financial Regulatory Authority (FRA) said in its monthly report on Tuesday.

Takaful insurance companies operating in the country achieved premiums of 2.25 billion pounds during the first four months of the current year versus 1.21 billion pounds last year, marking an 80.6 percent surge, the report added.

Non-life insurance companies operating in the Egyptian market posted four-month premiums increased 1.6 percent to around 5.14 billion pounds against 5.06 billion pounds during the same period last year.