Financial Supervision: Insurance Amounts in Egypt Grew to EGP10.1 Trillion   

Dr. Mohamed Emran, head of the Financial Supervisory Authority in Egypt, said that the total amounts of insurance and insurance coverage in Egypt amounted to  EGP 10.1 trillion during the fiscal year -2020-2021, compared to  EGP 8.1 trillion during the fiscal year 2019-2020, at an increasing rate of 24.8%, and the value of the amounts of insurance coverage on property and responsibilities amounted to EGP 5.1 trillion.

The value of insurance amounts for life insurance policies reached EGP 973.1 billion during the 2021 fiscal year, compared to EGP 858.3 billion during the 2020 fiscal year, with an increased rate of 13.4%.

Dr. Emran added, during that press conference held this morning, Monday, at the headquarters of the Financial Supervisory Authority in the Smart Village, to announce the harvest of the performance of non-banking financial activities during 2021, that the value of insurance coverage amounts for medical and accident insurance policies amounted to EGP 4 trillion during the 2021 fiscal year compared to EGP 2.5 trillion during the fiscal year 2020, an increase of 60.1%.

Muhammad Emran indicated that the estimated value of private insurance fund investments amounted to about EGP 102.3  billion at the end of 2021, compared to about EGP 85.6 billion at the end of the previous year, with a growth rate of about 19.5%.