Egyptian insurance market: 2023 results

The Egyptian insurance market closed the 2023 financial year with a turnover of 74 billion EGP (2.38 billion USD) against 56.8 billion EGP (2.291 billion USD) in 2022, a 30.4% improvement in original currency.

Non-life premiums progressed by 57.9% to 37.5 billion EGP (1.2 billion USD). Life underwriting stood at 36.5 billion EGP (1.18 billion USD), up by 10.6% over twelve months.

During the reporting period, claims settled by local companies amounted to 35.1 billion EGP (1.13 billion USD), showing a 31.3% increase compared with 2022.