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  4. > Egypt Insurance Report Q3 2016

Egypt Insurance Report Q3 2016

  • July 2016
  • -
  • Business Monitor International
  • -
  • 54 pages

BMI View:

Egypt's insurance market is growing at a steady pace, albeit from a relatively low base. Economic growth has led to a rise in average household income rates, which in turn is heightening demand for life and non-life insurance 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 the large first time user market. Barriers to growth remain, however, including a fragmented marketplace and an
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 11.0% 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 a key driver of growth in the Egyptian non-life sector, where we expect premiums to grow by an annual average of 11.0% (in local currency terms) between
2016 and 2020.

Table Of Contents

Egypt Insurance Report Q3 2016
BMI Industry View ... 5
Table: Headline Insurance Forecasts (Egypt 2013-2020) . 5
SWOT 7
Insurance . 7
Industry Forecast 9
Life Premiums Forecast .. 9
Table: Life Premiums (Egypt 2013-2020) 12
Table: Life Insurance Claims (Egypt 2008-2014) 12
Non-Life Premiums Forecast . 13
Table: Non-Life Premiums (Egypt 2013-2020) . 16
Table: Non-Life Insurance Claims (Egypt 2009-2014) . 18
Non-Life Sub-Sector Forecast 18
Table: Non-Life Insurance Premiums by Product Line (Egypt 2013-2020) 27
Insurance Risk/Reward Index .. 28
Sub-Saharan Africa Risk/Reward Index ... 28
Table: Sub-Saharan Africa Insurance Risk/Reward Index - Q316 . 28
Market Overview ... 30
Life Market Overview ... 30
Product Offering 30
Competitive Landscape ... 30
Table: Life Insurance Market (USDmn), 2011-2012 . 31
Non-Life Market Overview 32
Product Offering 32
Competitive Landscape ... 33
Table: Non-Life Insurance Market (USDmn), 2011-2012 34
Company Profile 35
American International Group (AIG) ... 35
Gulf Insurance Group (GIG) .. 38
MetLife .. 41
Misr Insurance Holding Company .. 44
Methodology .. 48
Industry Forecast Methodology 48
Risk/Reward Index Methodology ... 51
Table: Indicators 53
Table: Weighting of Indicators . 54

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