Magazine

Read the latest edition of AIR and MEIR as an Interactive e-book

Mar 2024

Egypt: Takaful firms narrow 1H technical loss rate

Source: Middle East Insurance Review | Nov 2019

The technical loss rate of takaful operators in Egypt decreased by 9.5 percentage points in the first half of this year to 14.8%, compared to 24.3% for the corresponding half of last year.
 
The reasons for this include a surge in revenue with contributions in 1H2019, rising three times as fast as claims and other payouts.
 
Total contributions collected by takaful operators reached EGP4.5bn ($277.2m) in the first six months of this year, compared to EGP1.8bn in the corresponding half of last year, an increase of 150%, reported Al Mal.
 
Benefits and claims paid by takaful operators amounted to EGP666.5m in the first half of this year, compared to EGP439.6m paid in the corresponding half of last year, an increase of 51.6%. M 
 
EGP1 = $0.06
 
| Print
CAPTCHA image
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.

 

Recent Comments

There are no comments submitted yet. Do you have an interesting opinion? Then be the first to post a comment.