Cairo – Mubasher: Current and new life insurance premiums value reached EGP 9.6 billion by the end of October 2015, with a rise of 38.7% when compared to EGP 6.9 billion in the same period last year, Financial Supervisory Authority (EFSA) Chairman, Sharif Sami, said on Sunday.
Meanwhile, property insurance value edged 1.1% up to EGP 5 billion in the first 10 months of 2015, versus EGP 4.9 billion in the same period last year, Sami added.
The total investments of insurance companies and Cooperative Insurance Associations value at about EGP 53.1 billion distributed across various investment channels, as fixed deposits represents 26.1% of the total investments, then treasury bills and securities with 23.8%, available for Sale Securities with 18.2% and 1.3% for loans guaranteed by insurance policies.
Sami explained that the biggest growth in insurance premiums was in oil sector with 70%, followed by aviation and engineering sectors with 53% and 27% respectively, while the deepest decline went to maritime transport and car insurance with 17.2 and 16% respectively.
