Egypt: Insurance premiums up 11.1%Reprints
Total insurance premiums in Egypt increased 11.1% to 10.1 billion Egyptian pounds ($1.44 billion) for the nine months from Jun. 30 2013 to Mar. 31 2014, Mohamed Moeit, deputy chairman of the Financial Supervisory Authority, said.
Net profits of insurers declined by 1.2% to EGP 1.07 billion ($153.5 million), Egypt Independent reported.
Mr. Moeit said the industry has achieved growth despite the weak economy.