Africa Re says 2019 premiums from Egypt worth $41 million

Africa Reinsurance Company’s (Africa Re) premiums portfolio from Egypt reached $41 million or around 657.5 million Egyptian pounds, its regional director Omar Gouda told Amwal Al Ghad on Wednesday.

Egypt is one of the promising markets for Africa Re given the high profitability which ranges between 5-10 percent, Gouda said.

Africa Re was established in 1976 by the member states of the African Union and African Development Bank (ADB). The company has operations across the continent.

The Lagos-headquartered company has a strong share of the reinsurance market across the African continent.