The Russian-Ukrainian war and its impact on insurance

According to Alaa El-Zoheiry, President of the Insurance Federation of Egypt (IFE), the Russian-Ukrainian conflict would have a direct bearing on the amount of insurance premiums in the market.

A. El-Zoheiry expects a decline in the number of tourists in Egypt. It should be noted that visitors from Russia and Ukraine used to represent 30% of the total number of tourists in the country annually.

This drop will have a negative impact on the revenues of tourist resorts and hotels, combined with a decrease in the volume of premiums that they underwrite with insurance companies.