Takaful seizes 11% of total insurance premiums in Egypt in 4 months

Takaful firms have managed to capture 11.46 percent of the total insurance premiums in the country throughout the first four months of the current year.

In four months, the takaful firms had posted direct premiums worth 825.7 million Egyptian pounds ($93 million), according to a report released by the country’s market regulator, Egyptian Financial Supervisory Authority (ESFA).

Insurance firms in Egypt witnessed a rise in their portfolio of premiums by 27.4 percent record 7.2 billion pounds during the first four months of 2016 ended on April 30, compared to 5.65 billion pounds in the same period a year earlier.