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Insurers urged to hike rates to match the degree of risk


Mohamed Farid, chairman of Egypt’s Financial Regulatory Authority, said that the Egyptian insurers need to raise insurance rates in line with the increased degree and size of risks they cover, Middle East Insurance Review reported. Mr. Farid also highlighted the challenges that are affecting the insurance market, including the ongoing COVID-19 pandemic, rising inflation, supply chain disruptions and the Russia-Ukraine war.

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