Magazine

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

Dec 2021

Egypt: Drop in takaful contributions, claims hike in 2Q

Source: Middle East Insurance Review | Oct 2021

Takaful providers in Egypt generated EGP1.7bn ($108m) in 2Q 2021 against EGP1.68bn in the same period of the preceding year, a fall of over 30%, according to the Financial Regulatory Authority’s quarterly report. Claims paid for the same period have grown by almost 84% to EGP611m versus  EGP332.6m in 2Q 2020.
 
However, the overall market premiums for the same period grew 37.7% to EGP12.5bn versus EGP9bn in 2Q 2020, with gross paid claims for the market increasing 1.02% to EGP5.13bn.
 
Conventional players’ GWP rose 53% to EGP11.3bn while their total paid claims fell 4.8% to EGP4.4bn. Egypt has 40 operating insurance companies, of which 10 are licensed takaful players. M 
 
| Print | Share

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.


Follow Middle East Insurance Review