Egypt: Takaful sector commands 13% of insurance market in 1H

Source: Middle East Insurance Review | Oct 2015

Takaful in Egypt chalked up a market share of 12.6% during the first six months of this year, with contributions amounting to EGP1.08 billion (US$137.85 million) compared to total market premiums of EGP8.55 billion.

Family takaful contributions totalled EGP592 million for the first half of this year, representing 13% of total life premiums of EGP5.4 billion in the Egyptian market during the first six months, according to Mr Sherif Samy, Chairman of the Egyptian Financial Supervisory Authority (EFSA).

General takaful contributions reached EGP487 million from January to June, representing 15.4% of total non-life premiums of EGP3.15 million in the Egyptian market for the period, said local media reports citing Mr Samy.

There are 32 insurance companies operating in Egypt, including eight Islamic insurers.

EGP10 = US$1.28

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