Egypt Insurance, Insurance In Egypt

Egypt Insurance, Insurance In Egypt

Egypt insurance is a market that has actually seen tremendous growth and success in the past few years.  In addition to seeing marked growth in the areas of rate of total assets, investments, premiums, and shareholder’s equity, the role of authority for the insurance industry has also evolved thanks to new controls and regulations being established by Egyptian law.  Today, the number of insurance companies in Egypt has also grown to keep up with consumer demand.

When looking at Egypt insurance, you will find options from various companies for the public and private sector companies.  Although all areas of insurance coverage have done well, one in particular has reached incredible success and that is life insurance.  Regardless of the policy you might be interested in securing, all insurance companies in Egypt are closely monitored by the Egyptian Insurance Supervisory Authority.

As with all other countries, when it comes to Egypt insurance some companies offer exceptional services and support while others are lacking.  For instance, if you were interested in purchasing Egypt insurance for life coverage, the top rated companies include Misr Insurance, Alico Insurance, CIL Insurance, National Insurance, Delta Insurance, Allianz Insurance, and NSGB Life Insurance.

On the other hand, if you needed information on insurance companies in Egypt specifically for non-life policies, the companies you would want quotes from include Mohandes Insurance, AMIG Insurance, AIG Insurance, Cooperative Insurance, Al Chark Insurance, and Allianz Insurance.  Of course, prior to locking into any insurance policy from any of the companies that offer Egypt insurance, you want to request a quote from three or four so you can look at policy details and premiums, choosing the one policy that matches your specific needs.

Of course, one of the best resources for finding the best insurance companies in Egypt, as well as a wealth of other information on different Egypt insurance topics, you could visit the website for the Egyptian Insurance Supervisory Authority, also known as EISA.  This organization is located in Cairo and serves a purpose of supervising and controlling the insurance industry throughout Egypt as a means of protecting consumers and keeping insurers current of legal requirements.

Working as a part of Egypt’s government, EISA follows behind the Ministry of Planning, which helps ensure any of the insurance companies in Egypt or an intermediary providing insurance business transactions on behalf of an insurance company must register with this organization.  That way, all companies selling Egypt insurance are provided with the same rules and regulations, thereby eliminating confusion and mistakes.  From there, this organization not only supervises and controls this industry but also audits activities for all the insurance companies in Egypt.

This means once an insurance company registered with EISA, officials are required to approve new products before they are offered to the public, they review current premiums and rates, follow up on and handle consumer complaints, revise annual reports and other publications, and even investigate policyholders.  Without doubt, the hard work of EISA is one reason Egypt insurance companies are doing so well.