Takaful captures 9.6% of total insurance premiums in Egypt in 11 months

Takaful firms have managed to capture 9.6 percent of the total insurance premiums in Egypt throughout the first 11 months of 2016, the country’s market regulator said in a report on Tuesday.

In 11 months, the life takaful firms posted direct premiums worth around 1.9 billion Egyptian pounds ($120.1 million), according to a report released by the country’s market regulator, Egyptian Financial Supervisory Authority (ESFA).

During the same period, the property takaful firms registered direct premiums of around 930.6 million pounds, the report showed.

The takaful firms’ premiums were mainly focused on complementary motor insurance with an around 25 percent share, compulsory motor insurance with 22 percent, accidents with 15 percent, and finally fire insurance with 14 percent, the report added.