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As institutional investors, lenders to many industries, and significant stockholders in numerous companies, insurance companies play a significant role in the financial system.
Investigating the conduct and effectiveness of insurance companies is so crucial. In Egypt, the insurance sector is crucial to sustaining the economy and increasing foreign direct investment. It offers monetary insurance for people and projects against various threats.
Additionally, it is aprimary method for gathering and utilising national savings for funding national growth and investment objectives, creating new employment opportunities, and reducing the effects of inflation.
For subscribers, optional private pension funds offer an additional pension. According to this framework, the insurance sector must use its resources to long- and medium-term projects that complement the nature of its commitments in order to generate demand for long- and medium-term financing.
Observation and control of the Egyptian insurance market are mandated by Law and its revisions.
The Egypt Motor Insurance Market accounted for $XX Billion in 2021 and is anticipated to reach $XX Billion by 2030, registering a CAGR of XX% from 2022 to 2030.
Profitability will also be impacted by underlying inflation, drops in premium rates, and expenses related to the FCA’s General Insurance Pricing Practices Review.
To aid small and micro businesses, AXA Egypt intends to increase the scope of its microinsurance initiatives.
The development strategy of the Egyptian insurer is based on four main pillars: establishing a stand-alone microinsurance company, expanding partnerships with online payment companies, increasing the number of corporate clients, and providing microinsurance products that are suited to consumers’ needs.
800 000 customers currently receive microinsurance services from AXA Egypt.
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