The chairman of the Egyptian Financial Supervisory Authority (EFSA) said that insurance instalments totalled EGP 24 billion last year, compared to EGP 18 billion in the year before.
Sherif Samy added in a statement on Sunday that new and current life insurance instalments increased by 40% in 2016 to EGP 16.5 billion up from EGP 11.8 million in the previous year.
During the same period, new and renewed property insurance policies grew 16.5%, reaching EGP 7.2 billion, compared to EGP 6.1 billion in the previous year.
The chairman of the EFSA also noted that supplemental auto insurance payments dominated a 29% share in the property insurance market during 2016, followed by fire insurance with 17%, medical with 15%, and accident with 12%.
