Takaful insurance captures 11 % of Egypt’s insurance market

Takaful insurance activity currently seizes 11 percent of the sector’s installment portfolio, Secretary-General of Insurance Federation of Egypt, Abdel-Raouf Kotb said Sunday.

In the side lines of a workshop on takaful insurance industry kicked off in cairo Sunday, Kotb said that this industry has lately become of great importance in the Egyptian market as a result of the increase in the numbers of the companies working in this domain.

Furthermore, the takaful insurance is expected to witness an increase in the growth rate and in the number of active companies stressing the Arab and foreign investors’ eagerness to expand in the Egyptian market.

He added that it is anticipated to enlist a new chapter on takaful insurance regulations as part of amendments to the law No. 10/1981.