New micro-insurance policies in Egypt record $48.5 mln end-Sept.

By Eslam Abdelhameed On Nov 21, 2019

Egypt’s market regulator FRA — Egypt's Financial Regulatory Authority (FRA) - previously the Egyptian Financial Supervisory Authority (EFSA)

Insurance companies operating in Egypt issued micro-insurance policies worth around 782.1 million Egyptian pounds ($48.5 million) at the end of the third quarter of this year.

The companies succeeded in issuing micro-insurance policies for 51.7 clients at the end of September, with total premiums of 3.38 million pounds, the Egyptian Financial Regulatory Authority (FRA) said in its recent on Thursday.

FRA’s strategies focuses on micro-insurance activities to support insurance companies’ business volume to increase premium portfolio to 50 billion pounds within the upcoming four years.