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Takaful captures 9.6% of Egypt total insurance premiums in two months

Employees work at the Myanmar central bank's headquarters in Naypyitaw May 17, 2012. 
Image used for illustrative purpose.

Employees work at the Myanmar central bank's headquarters in Naypyitaw May 17, 2012. Image used for illustrative purpose.

REUTERS/Soe Zeya Tun


Thursday, 18 May 2017

Takaful firms have managed to grab 8 percent of the total insurance premiums in Egypt during January and February, the country’s market regulator said in a report on Thursday.

In two months, takaful firms posted premiums worth 456.8 million Egyptian pounds ($25.2 million). The life takaful firms posted direct premiums worth around 222 million Egyptian pounds ($120.1 million), in which individual and group life insurance services account for 38 percent and 62 percent, respectively.

During the same period, the property takaful firms registered direct premiums of around 235 million pounds, the report showed.

The takaful firms’ premiums were mainly focused on complementary motor insurance with 27 percent share, compulsory motor insurance with around 16 percent, and accidents with 15 percent.

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© Amwal Alghad 2017
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