Cairo – Mubasher: The Egyptian Financial Supervisory Authority (EFSA) reported on Monday a 12.4% rise in insurance premiums during fiscal year 2015/2016.
Total insurance premiums reached EGP 18.2 billion in FY15/16, compared to about EGP 16.2 billion in FY14/15.
Property insurance premiums rose in FY15/16 by 11.5% year-on-year to EGP 9.9 billion, while life insurance premiums increased 13.4% year-on-year to EGP 8.3 billion.
The number of insurers in the Egyptian market reached 35 companies, including 14 life insurers and 21 real estate insurers.
EFSA chairman Sherif Samy said that net investments rose in FY15/16 by 9% to EGP 57 billion from EGP 52.5 billion in the previous year.
