Egypt: Market GWP surges 39% in January 2025
Source: Middle East Insurance Review | May 2025
Gross written premiums generated in the insurance market in Egypt reached EGP11.7bn ($232.6m) in January, up from EGP8.4bn achieved in the same month in 2024, according to the Financial Regulatory Authority in its latest monthly publication.
Most of the growth is attributed to the significant increase in the property and liability branch of business where premiums grew by almost 64% to EGP7.1bn in January 2025 against EGP4.4bn in the same month of the previous year. Insurance of persons and funds accumulation operations, on the other hand, grew by 13% to EGP4.5bn year on year.
The overall paid claims in the market reached EGP4.4bn in January 2025 compared to EGP3.6bn in January 2024. Paid claims for the property and liability branch grew by 39% to EGP2.4bn from EGP1.7bn; while Insurance of persons and funds accumulation paid claims reached EGP2bn, up from EGP1.9bn, an increase of 4%.
Takaful gross contributions grew by 63% to EGP1.9bn in January 2025 from EGP1.2bn in January 2024. Takaful contributions accounted for 16.5% of the market volume in January 2025 against 14% in the same month in 2024.
Takaful operators paid claims totalling around EGP519m in January 2025, up from EGP3.57m in January 2024. M