Egypt Insurance, Companies & Insurance Quote
Insurance in Egypt is showing tremendous growth as well as success in the recent few years. Apart from this, the rate of market growth in total assets, premiums, investments and shareholder equity has evolved to controls and regulations established by Egyptian law.
The number of companies dealing with insurance in Egypt have grown keeping up with consumer demand.
The insurance status is between private and public insurance companies, but is governed by the General Authority for financial supervision. Allianz in 2008 surpasses EUR92.5billion total revenue with life insurance premiums in 2008 accounting to EGP 445million and non-life insurance premiums to EGP 176 million.
Egypt Insurance expects incredible success in life insurance and identical to other countries, Egypt insurance also offers exceptional services as well as support. For instance, the top companies for life coverage are Misr Insurance, CIL Insurance, Alico Insurance, Delta Insurance, National Insurance, NSGB Life Insurance and Allianz Insurance.
There are non-life insurance providers in Egypt that includes AMIG Insurance, Mohandes Insurance, Cooperative Insurance, Allianz Insurance, AIG Insurance and Al Chark Insurance. However, purchasing any insurance policy in Egypt should be done after requesting quotes from three or four companies and reading their policy details as well as premiums.
EISA helps the companies dealing with insurance in Egypt or also offers intermediary by offering insurance business transactions after registering with the organization. In this way, all companies dealing with insurance in Egypt are provided with rules and regulations and eliminate any sort of mistakes and confusion.
This organization controls and supervises the insurance industry and audits activities for the same.
The major insurance providers in Egypt are Al Chark in the world and offers outstanding services throughout Egypt in 221 branches. Suez Canal Insurance Co has 29 branches and offers excellent services, while Horizon Online Egypt is a private insurance designed to offer medical plans to individuals as well as organizations in Egypt.
The insurance sector in Egypt has experienced a fast rate of growth. The life insurance sector has done well among various types of insurance in the country. The numbers of private insurance funds reached 617 in 2004. Egyptian insurance companies and non-life insurance companies are regulated and follow the rules and regulations specified by the supervisory body.