News Middle East20 Jan 2021

Egypt:Insurance market grows by 14% in 2021

| 20 Jan 2021

Total premiums in Egypt increased to EGP40.1bn ($2.55bn) in the 2020 fiscal year compared to EGP35.2bn in the previous year, an increase of 14%.

The 2020 figure was announced by the head of the Financial Regulatory Authority, Dr Mohamed Omran.

He also said that the total value of insurance companies' investments stood at EGP107.8bn as of 30 June 2020, 5.7% higher than as of 30 June 2019. He added that investments of private insurance funds amounted to about EGP83bn in 2020 compared to EGP76bn in 2019, an increase of 10%.

The net assets of all insurance companies in the country reached EGP128.6bn as of 30 June 2020 compared to EGP118.2bn as of June 2019, an increase of about 8.8%.

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