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Misr Insurance leads Egypt’s insurance market

Misr Insurance leads Egypt’s insurance market

ArabFinance: Misr Insurance topped the list of the five biggest companies in Egypt’s insurance market in terms of premiums collected in January and February 2021, followed by Misr Life Insurance, Daily News reported on May 3rd.

Both companies belong to the public business sector.

The list also included three companies belonging to the private sector, namely: Allianz Life Insurance – Egypt, AXA Life Insurance – Egypt, and MetLife Life Insurance.

Around 37 private sector companies acquired 62.5% of total premiums collected during January and February 2021 at a value of EGP 4.75 billion.

The Financial Regulatory Authority (FRA) revealed that public business sector insurance companies acquired 37.5% of the total premiums collected during January and February, at a value of EGP 2.8 billion. These companies were represented by Misr Insurance and Misr Life Insurance.

During the first two months of 2021, insurance companies managed to achieve high growth rates in their collected premiums at a rate of 18.6%, or EGP 7.6 billion.

The insurance premiums collected in January and February 2021 were EGP 3.6 billion for property and liability insurance companies, compared to approximately EGP 4 billion for life insurance companies and fund-raising.

 

 

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