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Fire insurance retention projected at 42% by 2025
Dr. Tarek Saif, Deputy Chairman of the General Authority for Insurance Supervision, revealed that the retention ratio of insurance companies’ fire insurance premium portfolio reached 42% by the end of 2025. At the same time, the technical loss rate for this branch was 37% in the same year. Data also showed that premiums from the fire insurance branch accounted for 18% of the total market premium portfolio. This branch is considered one of the most complex and important in Egypt and worldwide. Moving forward, the Authority is working on improving risk management through investments in risk engineering and technology to enhance comprehensive coverage. The focus will be on expanding insurance inclusion using artificial intelligence and financial technology to achieve market sustainability and protect lives and property.
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