Total insurance instalments paid stands at EGP 5.7bn by April 2015

Instalments of new and current life insurance issues reached EGP 3.54bn between January and April, compared to EGP 2.8bn during the same period in 2014, representing a 25.8% increase. The new and renewed insurances on properties reached EGP 2.15bn, with a slight increase of 5.6%, compared to EGP 2bn over the same period 2014, head of the Egyptian Financial Supervisory Authority (EFSA) Sherif Samy announced Sunday.

Samy clarified that the petroleum sector has witnessed the highest increase percentage amongst properties insurance instalments, recording a 208% increase. This was followed by the aviation sector with 148%. The highest decrease was witnessed by the supplementary car insurance sector, reaching 20% and vessels bodies by 13%, compared to the first four months of 2014.