Egyptian insurance market: 2016 results
According to the Egyptian Financial Supervisory Authority, the turnover of the Egyptian market (including Takaful activity) attained 24 billion EGP (2.7 billion USD) in 2016, a 33% increase in comparison with the 18 billion EGP (2.3 billion USD) reported in 2015. This performance has been accounted for by the leap achieved by the life class of business.
With underwritings worth 1.1 billion EGP (124 million USD), health insurance reported a 12.7% growth in comparison with the 976 million EGP (128 million USD) reported in 2015. The health class of business is facing numerous hardships including the rise in health costs, inflation and deterioration of loss experience.
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