The Egyptian takaful premiums have managed to capture in two months around 12.77 percent of the total insurance premiums in the country, Egypt’s market regulator said in a statement on Thursday.
During the first two months of 2016, the Egyptian takaful firms have registered insurance premiums worth 459.8 million Egyptian pounds (US$51.7 million).
The Egyptian Financial Supervisory Authority (EFSA) further stated that the Egyptian takaful non-life insurance firms represent around 19 percent or 225 million pounds of the total non-life insurance premiums in the market by end of last February.
The takaful firms’ premiums mainly focused on the compulsory motor insurance with a 21 percent stake at value of 47.1 million pounds, fire with a 19.8 percent and 44.5 million pounds, and finally comprehensive motor insurance with 19 percent and 42.7 million pounds of premiums, EFSA added.
