Investments of private insurance funds in Egypt reach LE 9.4B within 6 months

CAIRO  - 23 August 2022: Total investments of private insurance funds in Egypt amounted to LE 9.442 billion during the first six months of 2022, compared to LE 6.223 billion during the same period in 2021, marking an increase of 51.7 percent, according to the Financial Regulatory Authority (FRA).

 

The FRA added that the investments of insurance funds during May hiked 61.7 percent, to LE 1.720 billion, compared to LE 1.064 billion.

 

According to the FRA data, the value of the collected premiums for property and liability insurances during the first six months of 2022 hit LE 27.8 billion, up from LE 24.5 billion during the same period in 2021, with a growth rate of 13.1 percent.

 

The collected premiums were distributed between property and liability insurance, and people and money formation, as the collected premiums for property and liability insurance amounted to LE 10.9 billion during the period from January to June of 2022, compared to LE 10.76 billion during the same period in 2021, with a growth rate of 0.9 percent.

 

The value of the premiums collected for people and money formation rose 22.6 percent to LE 16.9 billion during the period from January to June of 2022, compared to LE 13.8 billion during the same period of 2021.

 

The total compensation paid by insurance companies increased 15 percent, to LE 12.9 billion during the period of 2022, compared to LE 11.2 billion during the same period in 2021. It was distributed among the compensation paid to property and liability insurances by LE 4.96 billion during the period from January to June of 2022, compared to LE 5.3 billion during the same period in 2021, marking a decrease of 5.7 percent.

 

The value of compensation paid to people and the formation of funds amounted to LE 7.9 billion during the period from January to June of 2022, compared to LE 5.9 billion during the same period last year, with a growth rate of 33.4 percent.