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السبت، 7 سبتمبر 2019

Life insurers acquire 71.1% of market premiums in 5 months

Life insurers acquire 71.1% of market premiums in 5 months





Life insurers acquire 71.1% of market premiums in 5 months

 According to official data issued by the Egyptian Financial Supervisory Authority (EFSA), the total premiums received by the insurance companies of both types, whether in the life and money creation activity or in the property and liabilities activity, amounted to LE 23.2 billion in the period from January 1 to the end of May 
2019



Life and money insurance



 companies accounted for 71.1% of the premiums received by the insurance market in the first five months of 2019, in the period from January to the end of last May, compared to 28.9% share of property insurance companies and liabilities of premiums collected in the first months of the year Ongoing


Number of Life Insurance Companies in Egypt

 It is known that the number of life insurance companies and the formation of funds operating in the Egyptian market, up to 15 companies, including one company belonging to the public business sector, represented in Egypt Life Insurance, compared to 14 companies, all of them belong to the private sector



Total premiums collected in the insurance market in five months

 According to official data issued by the Egyptian Financial Supervisory Authority (EFSA), the total premiums received by the insurance companies of both types, whether operating in the life and money creation activity, or in the property and liabilities activity, amounted to LE 23.2 billion in the period from January 1 to the end of May 2019. 16.5 billion pounds, 71.1%, compared to 6.7 billion pounds total premiums earned by property insurance companies by 28.9%


Number of property insurance companies in Egypt

 It is known that the number of property insurance companies operating in the Egyptian market, up to 23 companies, including one company belonging to the public business sector, represented in Egypt Insurance, compared to 22 companies all belong to the private sector


Life insurance companies open 2019 with LE 3.2 billion installments

 Life insurance companies opened in 2019 to collect 3.2 billion pounds in January, amounted to 3.1 billion pounds in February, approached 3.3 billion pounds in March, then jumped to 3.5 billion pounds in April, and ended the month of May to collect 3.4 billion pounds installments




 Life insurance

 It is known that life insurance is an insurance contract entered into between the policyholder or the customer and an insurance company

Life insurance

 Based on the document, the customer is obliged to pay an amount of money monthly, every three months, half a year or a year called the premium. The contract specifies the period of validity of the policy. The amount usually paid by the company to the heirs or beneficiaries in the event of the death of the policyholder is usually agreeing on the policy

 Types of life insurance

 There are two types of life insurance, one for life insurance only, and the second life insurance plus savings, and in life insurance only there is a type called temporary insurance, and in life and savings insurance there is a so-called mixed insurance, which covers the risk of the client in addition to granting a return on investment On the premium of the end of the insurance period

 Property insurers received EGP 1.4 bn in installments in January, and the balance in February dropped to EGP 1.2 bn and rose in March to EGP 1.4 bn. The index then fell back in April to EGP 1.1 bn. But it jumped to 1.6 billion pounds by the end of May


What is property insurance?

 Property insurance is one of the types of insurance that helps protect individuals' property from the expected dangers of fire, theft, etc. The property insurance policy is important because it gives you insurance coverage on your property against risks that may result from natural accidents or Such as fire, theft, or damage from climate change and others

 Types of Property Insurance

 Property insurance is divided into three types: buildings, and means the structure of the property and everything attached to it, in addition to machines and other content, and means all holdings except the inventory that may be inside the property or stores, and finally, inventory, and means all property that Shall be for the believer of his or his custody


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