In Egypt there is a growing civil unrest and great uncertainties in the market, So Insurance is required more for the financial protection of assets. Conventional insurance policies are considered haram (Forbidden) in Egypt.
In Egypt there is Takaful insurance in which individual members has to give a certain premium to make a pool of resource which will be used for the benefit of some individual members , the takaful will work under the guidelines of Sharia Law.The Egyptian Financial Supervisory Authority (EFSA)has set standards for�takaful�companies to comply with.
Egypt is one of the major tourist destinations across the world , It has many world famous monuments and attractions. So there are wide varieties of travel insurance you can make avail , Make sure to read carefully all the instructions and conditions of the policies.
Insurance industry in egypt is not very strong with only life insurance and property insurance being major player in the market. Due to illiteracy and poverty the insurance industry is not able to grow at a fast pace. There is a constant threat of civil riot, terrorism act and social unrest that adversely affects the insurance industry in Egypt.
Egyptian Insurance Companies are :
Leading life and other insurance companies in Egypt, ordered by their total number of written premiums, are as follows:
Egypt Life Insurance Companies
Allianz Life Insurance
NSGB Life Insurance
Egyptian Non-Life Insurance Companies
Al Chark Insurance
Last Updated on : 26th August 2013