Takaful seizes 12.77% of total insurance premiums in Egypt

The Egyptian takaful premiums have managed to capture in two months around 12.77 percent of the total insurance premiums in the country, Egypt’s market regulator said in a statement on Thursday.

During the first two months of 2016, the Egyptian takaful firms have registered insurance premiums worth 459.8 million Egyptian pounds (US$51.7 million).

The Egyptian Financial Supervisory Authority (EFSA) further stated that the Egyptian takaful non-life insurance firms represent around 19 percent or 225 million pounds of the total non-life insurance premiums in the market by end of last February.

The takaful firms’ premiums mainly focused on the compulsory motor insurance with a 21 percent stake at value of 47.1 million pounds, fire with a 19.8 percent and 44.5 million pounds, and finally comprehensive motor insurance with 19 percent and 42.7 million pounds of premiums, EFSA added.