News Middle East05 Apr 2020

Egypt:More players in insurance broking segment

05 Apr 2020

The number of individual insurance brokers in the Egyptian insurance market increased to 13,297 at end-December 2019, 7% more compared to 12,432 12 months previously ,according to a report on non-banking financial activities in the country for the last quarter of 2019 released by the Financial Regulatory Authority.

The number of loss adjusting companies, however, decreased by one to 69 last year. The number of surveying experts decreased to 406 at the end of 2019 compared to 408 at 31 December 2018.

Actuaries

The number of actuaries registered with the Financial Regulatory Authority increased to 50 at the end of 2019, compared to 43 experts at the end of 2018.

Two new insurers started operations in Egypt last year, taking the total number of insurance companies in the country to around 40. Meanwhile, state owned Misr Insurance Holding plans to launch a new family takaful insurance company with two banks.


 


 


 

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