Egypt: Insurance federation vets business models for proposed Nat CAT pool

Source: Middle East Insurance Review | Apr 2024

The Insurance Federation of Egypt (IFE) is studying various options to arrive at the optimal business model for a natural disaster pool that it plans to establish.

The work is being done by a specialised committee formed to establish the pool, reported Amwal Alghad, quoting the IFE.

The federation said in its latest weekly bulletin issued on 2 March 2024 that the increase in frequency and intensity of extreme weather events such as severe drought, floods and tropical cyclones could destabilise countries and cause widespread loss of lives and property.

In its preparations to set up a Nat CAT pool, the IFE said that it is studying the experiences of many countries and consultations have been conducted with a number of expert houses, international reinsurance brokers and governmental and scientific bodies in the field. M

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