Egypt: Takaful accounted for 13% of insurance market in Jan-May

Source: Middle East Insurance Review | Sep 2015

The share of takaful companies in the overall Egyptian insurance market stood at 13% for the first five months of this year, according to the Egyptian Financial Supervisory Authority (EFSA).

Takaful operators reported contributions of EGP485 million (US$62 million) in the life sector for the January to May period, or 11% of the life insurance market’s total premiums of EGP4.47 billion for the five months, reported the Seven Days news website, citing an EFSA statement.

General takaful collected contributions of EGP425 million or 16% of total non-life premiums in Egypt during the first five months of 2015. Compulsory motor insurance accounted for 28% of the total general takaful contributions, followed by fire (22%) and supplementary motor (20%).

Egypt has 32 insurance companies, including eight takaful firms.

EGP1 = US$0.13

Comment | Print

Name*

Email*

Comment*

Code Verification*

Enter the code shown above in the box below.

Note that your comment may be edited or removed in the future, and that your comment may appear alongside the original article on websites other than this one.