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Delta Insurance's premiums rise 33% in Egypt

SAE's insurance premiums increased nearly 33% year-over-year to more than $38 million in the nine months ended March 31.

Moody’s MENA analyst states that Egypt is the second largest insurance market in the MENA region.

Global rating agency Moody's said Egypt comes second place after Morocco, the biggest insurance market in North Africa.

Economic hurdles such as poverty and shortage of skilled workers will slow sector's growth.

The company is selling its Egyptian business to its rival Axa for around $97.5m.The deal closes by the end of this year.

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