Egypt: Total insurance premiums up 15% in 2013

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Egypt's insurance industry recorded a 15% year-on-year increase in total insurance premiums in 2013 to 12.2 billion Egyptian pounds ($1.75 billion), the Egyptian Financial Supervisory Authority said.

Claims paid dropped 12% to EGP 6.7 billion ($963.4 million), Middle East Insurance Review reported.

Insurance makes up 0.5% of the country's GDP, reports Middle East Insurance Review.

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