New micro-insurance policies in Egypt record $17 mln in H1

Insurance companies operating in Egypt issued micro-insurance policies worth around 281.9 million Egyptian pounds ($17 million) during the first half of the year, according to sources.

These companies succeeded in issuing micro-insurance policies in favour of 20,49 clients at the end of June, with premiums totalling1.4 million pounds,” sources in the Egyptian Financial Supervisory Authority (EFSA) said on Wednesday.

“One of the authority’s strategies focuses on micro-insurance activities to support insurance companies’ business volume to increase premium portfolio to 50 billion pounds within the coming four years,” they told Amwal Al Ghad.