Egypt: Positive outlook for insurance market, minister says

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Ashraf Salman, Egypt’s investment minister, has expressed optimism about the country's insurance market, saying it has grown over the last three years even as economic activity declined, reported Asia Insurance Review.

Mr. Salman said premium volume for fiscal year 2012-13 increased 16% to 12.8 billion Egyptian pounds ($1.8 billion) and nonlife premiums grew 15%. The country's insurance sector is undergoing some structural reforms, the minister said, adding that a national reinsurer is being set up.

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