Establishment of a natural catastrophe insurance pool in Egypt

The Insurance Federation of Egypt (IFE) is once again considering the creation of an insurance pool dedicated to natural catastrophes.

The implementation of this pool is all the more urgent as the cost of natural catastrophes in 2015 amounted to 200 million EGP (25.6 million USD), far from the 50 million EGP (6.4 million USD EUR) of premiums generated to cover these risks.

Announced in 2015, this project was delayed due to the lack of a claims database and risk mapping.

Read also:

• The insurance industry is targeting a turnover of 2 billion USD in 2015
• An insurance scheme for natural disasters in Egypt