Medical Insurance Posted EGP 802.6 Mln Premiums In 2011

The medical insurance premiums in Egypt rose from EGP 321.8 million in 2007 to EGP 802.6 million in 2011 after issuing insurance policies which cater to the needs of people, said Adel Mounir, deputy chairman of the Egyptian Financial Supervisory Authority (EFSA).

The medical insurance compensations surged from EGP 226.3 million in 2007 to EGP 559 million in 2011. Despite the loss rates, some of the insurance companies achieved insurance surplus.

There are many economic challenges facing healthcare services in Egypt such as the increasing demand over supply and the high costs of healthcare services, he noted.

EFSA supervises about 19 companies which offer medical insurance services in Egypt and they achieved premiums of EGP 802.2 million in 2011.