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The turnover of the Egyptian insurance market would grow by 20% during the 2017-2018 fiscal year. Premiums are expected to reach 22 billion EGP (1.2 billion USD) by the end of June 2018.
Alaa Al-Zoheiry, Chairman of the Insurance Federation of Egypt (IFE), explained this expected growth by the asset revaluation and exchange rate liberalization, in effect since November 2016.
A. Al-Zoheiry added that the IFE is considering the introduction of compulsory professional third party liability insurance for doctors, engineers and companies' managers. Improving the regulatory framework is also among the priorities of the federation.
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