Alaa Al-Zuhairi: The war in Ukraine casts a shadow over the international economy, with the insurance industry at the heart of it

علاء الزهيرى Alaa Al-Zuhairi

Iman Al-Wasili


The initial indicators of the war waged by the Russian Federation against Ukraine revealed serious negative effects on various global economic activities, as well as the stock exchanges in various world markets, where the prices of most minerals globally rose, and energy prices rose significantly, and in return fell in return. Shares on most stock exchanges. In the Russian capital, Moscow, and with the first hours of the war, the Moscow Stock Exchange fell more than %, and no one can To limit the extent of the serious effects that will affect the global economy, especially the economy of Russia, after the strict sanctions package announced by the Group of Seven, in addition to the sanctions of the European Union, Australia, Canada, the United States and the United Kingdom.

And in exclusive statements to “


” said Alaa Al-Zuhairi, head of the Egyptian Insurance Federation. The insurance industry, which is a global industry in the first place and represents an essential part of the global economy, will certainly be affected unless the war stops. Which means, in the language of insurance, that marine insurance prices have risen significantly, especially in these marine areas, adding that the Lloyd’s Authority in London has formed a committee to follow up on current events between the two neighboring countries, Russia and Ukraine, and to assess the situation first-hand.

In response to a question by “ Businessmen 960 “On the Egyptian insurance market and the extent to which it was affected by this war… Alaa Al-Zuhairi stressed that Egypt is far from conflict areas, And that our economy is able to overcome such crises as it succeeded before in overcoming the effects of the Corona pandemic, and we in the Egyptian Insurance Federation, in coordination with the Financial Supervisory Authority, follow the situation and developments of the crisis, but what I would like to emphasize is that there is no impact of these events on the Egyptian insurance market now .