Egypt: Insurers posted 24% growth in premiums in 9M2019
Source: Middle East Insurance Review | Jan 2020
Total premiums of insurers in Egypt increased during the first nine months of 2019 to reach EGP25.7bn ($1.7bn), up 24.3% from the corresponding period of the previous year, according to data from the Financial Regulatory Authority.
Premiums of property and liability insurers increased by 19.3% to almost EGP12bn for the first three quarters of 2019, while life premiums jumped by 28.9% to EGP13.7bn for the same period, reported Amwal Alghad citing the official data.
By total premiums, the market share of Egypt’s largest non-life insurer – Misr Insurance – was 22% during the first nine months of 2019, while that of its sister company Misr Life Insurance was 12.8%.
The market shares of the insurers for the first three quarters of 2019 are shown in Table 1. M
EGP1 = $0.06