Expectations of the continued growth of the Egyptian insurance sector 20% annually

Egyptian Insurance Federation president Alaa al -zuhairi expected the insurance sector in Egypt to continue to grow the value of payments annually by 20%, with the growth of the sector in the same rate, and utilized the compulsory insurance law issued last year as soon as it was applied. Al -Zuhairi said the size of the installments has become rapid over the past year, according to the last statistics of the financial supervisory authority at the end of June 2024, amounted to 83 billion pounds, while the volume of the sector’s investments amounted to 180 billion pounds. He pointed out that supplementary car insurance represents about 35% of total property insurance premiums, and expected the stability of car insurance amounts to expect inflation as a result of the increase in the recent period due to the high compensation due to a rise in the price of auto parts.