Egypt Insurance Report Q2 2016

Date: March 16, 2016
Pages: 52
US$ 1,295.00
Report type: Strategic Report
Delivery: E-mail Delivery (PDF)
ID: E81A8D554F8EN

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Includes 3 FREE quarterly updates

BMI View: Egypt's insurance market offers significant growth potential. Average household income rates are improving which will increase the affordability of a range of life and non-life products. Demand for key lines, such as motor and health insurance, remains high and we are seeing a broadening in the range of products available in the market. Key to growth will be the expansion of takaful and microinsurance products which will enable insurers to access to the large first time user market. Barriers to growth remain, however, including a fragmented marketplace and uncertain regulatory environment.

Key Updates And Forecasts
  • Takaful insurance is growing rapidly in Egypt. The Secretary-General of Insurance Federation of Egypt, Abdel-Raouf Kotb, recently reported that takaful insurance now accounts for 11% of the country's insurance market.
  • Work continues on drafts of a new health insurance bill which is expected to be presented by government to parliament. The new health insurance law will include the introduction of health insurance payments and will expand coverage, though we note it has come under significant criticism from medical practitioners in the country.
  • Demand for property and motor insurance will be some of the key drivers of growth in the Egyptian nonlife sector where we expect premiums to grow by an annual average of 11.2% (in local currency terms) between 2016 and 2020.
  • Substantial growth is also expected in the slightly smaller life insurance segment, where we expect premiums to grow by an annual average of just under 13.0% over the forecast period, increasing from EGP8.2bn in 2016 to EGP13.0bn in 2020.
BMI Industry View
  Table: Headline Insurance Forecasts (Egypt 2013-2020)
Industry Forecast
Life Premiums Forecast
  Table: Life Premiums (Egypt 2013-2020)
  Table: Life Insurance Claims (Egypt 2008-2014)
Non-Life Premiums Forecast
  Table: Non-Life Premiums (Egypt 2013-2020)
  Table: Non-Life Insurance Claims (Egypt 2009-2014)
Non-Life Sub-Sector Forecast
  Table: Non-Life Insurance Premiums by Product Line (Egypt 2013-2020)
Insurance Risk/Reward Index
Sub-Saharan Africa Risk/Reward Index
  Table: Sub-Saharan Africa Insurance Risk/Reward Index - Q216
Market Overview
Life Market Overview
The Product Offering
The Competitive Landscape
  Table: Life Insurance Market (USDmn), 2011-2012
Non-Life Market Overview
The Product Offering
The Competitive Landscape
  Table: Non-Life Insurance Market (USDmn), 2011-2012
Company Profile
American International Group (AIG)
Gulf Insurance Group (GIG)
Misr Insurance Holding Company
Industry Forecast Methodology
Risk/Reward Index Methodology
  Table: Indicators
  Table: Weighting of Indicators
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