Insurance Sector Seen 8% To 10% Growth In FY2011/12
Published Monday, 18 June 2012 14:17 | Written by Sherine Taha
Dr. Adel Mounir, Egyptian Financial Supervisory Authority (EFSA) Vice-Chairman, said the insurance sector is expected to post a growth in the volume of insurance premiums ranging between 8% and 10%, of the total market. Noting that the volume of life and property insurance premiums during the FY 2011/12 hit EGP 10.135 million.
There are 29 insurance companies listed in the Egyptian market.
“It is also expected that takaful’s market (Islamic insurance) share will witness a rise ranging between 6% and 6.5%, compared to 5% achieved during the FY 2011/12.” Mounir addedWorth mentioning, there are 7 takaful companies listed in the Egyptian insurance market; they are: Egyptian Saudi Insurance House, Egyptian Takaful Insurance Company (Property), Egyptian Takaful Insurance Company (Life), Nile Family Takaful Company, General Takaful, Wethaq Takaful Insurance Company, and Arab Orient Insurance Co. (AOIC).
Most Popular »
- Malek, El Zorba, Al-Swedy Turn Down FEI's Chairman Post
- Egypt’s Main Gauge Nears 5430 Pts Powered By Seven Kidnapping Release News
- Foreign Trade: Egypt's Imports Of Chinese Clothes Reached EGP453 mln
- Egypt’s Central Bank Offers US$ 800 Mln At Exceptional FX Auction
- Crowell & Moring Advises ADIB Egypt On Landmark Islamic Finance Deal