Egypt: Insurance industry fights fire losses
Source: Middle East Insurance Review | Oct 2026
The fire insurance branch in Egypt has faced challenges for many years related to high and frequent losses, with the loss ratio in the branch reaching 37% in 2025, said Dr Tarek Seif, Vice Chairman of the Financial Regulatory Authority (FRA).
In a speech delivered on behalf of FRA Chairman Dr Islam Azzam, at a recent conference on “Reducing Losses in the Fire Insurance Branch in the Egyptian Market”, Dr Seif highlighted the importance of fire insurance, which contributed 18% of the total premiums of the overall insurance market in Egypt in 2025, according to a report by Amwal Alghad.
He said that the FRA’s goals for developing the market are based on two pillars:
- Risk management and engineering: The need to invest in risk engineering and loss control before and after an incident (Pre & post-loss control), and to expand comprehensive and innovative insurance coverage.
- Technology and insurance inclusion: Moving from traditional assessment methods to “predictive risk measures” by leveraging artificial intelligence and financial technology, along with increasing insurance inclusion to reach groups most in need of coverage. M