Cairo – Mubasher: Takaful insurance premiums in Egypt surged by 116.4% year-on-year during the first eight months of 2019, Akhbar El-Yom reported on Sunday, citing the Financial Regulatory Authority’s (FRA) chairman Mohamed Omran as saying.

Life and property takaful insurance premiums increased to EGP 5.4 billion during the January-August period of 2019, compared to EGP 2.5 billion in the year-ago period, Omran added.

Meanwhile, the value of compensation paid by takaful insurance companies amounted to EGP 928.6 million during the eight-month period ended 31 August, rising by 56.9% year-on-year from EGP 591 million, he revealed.