Egypt: Insurance sector grows by double digits in 1Q despite COVID-19
Source: Middle East Insurance Review | Jul 2020
Insurers operating in Egypt posted premiums of EGP9.43bn ($582.8m) during the first quarter of this year, marking a 15.6% growth over the corresponding quarter last year, in spite of the COVID-19 pandemic.
First-quarter commercial insurance premiums rose 7.3% to EGP7.75bn from EGP7.22bn during the same period of 2019, reported Amwal AlGhad, citing a monthly report issued by the Financial Regulatory Authority (FRA).
Takaful operators in the country posted contributions of EGP1.67bn during the first three months of this year, an increase of 80.6% from EGP926.9m in 1Q2019. M
EGP1 = $0.06