Financial Supervisory Authority Chairman Sherif Samy said the premiums of new and renewed property insurances from January to November 2014 have totaled LE5.4 billion, compared to LE4.8 billion during the same period in 2013, which is an increase of 14 percent.
He also said that life insurance premiums went down from LE8.5 billion in 2013 to LE7.6 billion in 2014, a drop of 10 percent.
He added that car insurances constitute 35 percent of the market portfolio, followed by fire insurances with 13 percent and medical insurances with 14 percent.
Total compensations paid for property insurances was LE3.3 billion, compared to LE2.4 billion in 2013, while compensation paid for individual insurances were LE3.1 billion, compared with LE2.4 billion.
Canceled policies increased from 198,000 policies to 222,000 policies for property and individuals.
Edited translation from Al-Masry Al-Youm
