Egyptian insurers expect the European reinsurers to increase premium rates in the upcoming January 2023 renewal season, as inflation and increased claims costs bites underwriters, Middle East Insurance Review reported citing Al Mal News. GIG Egypt Life Takaful Co.’s assistant managing director for financial affairs, Mohamed Akef said that reinsurers are expected to pressure local insurers into absorbing the impact of inflation by raising insured sums to compensate for the depreciation of the Egyptian pound, thereby leading to premium rate hikes.
Texas Blues faces $900 million hospital demand in contract dispute
