Egypt premiums leap by 13.3% to LE27.7b in H1 

Ahmed Kamel

Premiums jumped by 13.1 per cent to LE27.75 billion ($1.4 billion) in the first half (H1) of 2022, up from LE24.54 billion in the same period in 2021, data from the Financial Regulatory Authority (FRA) showed last week.

Life premiums leaped by 22.6 per cent to LE16.9 billion in 2022 H1 (January- June), against LE13.8 billion in the same period the previous year. Non-life premiums added 0.9 per cent to LE10.85 billion in 2022 H1, up from LE10.75 billion in 2021 H1, according to FRA data.

Commercial premiums rose by 3.8 per cent to LE23.2 billion in 2022 H1, compared to LE22.36 billion in the same period a year earlier.

Takaful premiums surged by 108.2 per cent to LE4.5 billion in 2022 H1, up from LE2.18 billion in 2021 H1., according to FRA data.

Paid claims increased by 15 per cent to LE12.88 billion in 2022 H1, up from LE11.2 billion in the same period in 2021. Life paid claims jumped by 33.4 per cent to LE7.92 billion in 2022 H1, up from LE5.9 billion in the same period a year ago, according to FRA data.

Non-life paid claims fell by 5.7 per cent to LE4.95 billion in 2022 H1, down from LE5.26 billion, according to FRA data.