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Egypt Insurance Report Q2 2016

  • March 2016
  • -
  • Business Monitor International
  • -
  • 52 pages

Includes 3 FREE quarterly updates

BMI View: Egypt's insurance market offers significant growth potential. Average household income ratesare improving which will increase the affordability of a range of life and non-life products. Demand for keylines, such as motor and health insurance, remains high and we are seeing a broadening in the range ofproducts available in the market. Key to growth will be the expansion of takaful and microinsuranceproducts 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'sinsurance market.

- Work continues on drafts of a new health insurance bill which is expected to be presented by governmentto parliament. The new health insurance law will include the introduction of health insurance paymentsand will expand coverage, though we note it has come under significant criticism from medicalpractitioners in the country.

- Demand for property and motor insurance will be some of the key drivers of growth in the Egyptian nonlifesector 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 expectpremiums to grow by an annual average of just under 13.0% over the forecast period, increasing fromEGP8.2bn in 2016 to EGP13.0bn in 2020.

Table Of Contents

Egypt Insurance Report Q2 2016
BMI Industry View 5
Table: Headline Insurance Forecasts (Egypt 2013-2020) 5
Industry Forecast 8
Life Premiums Forecast 8
Table: Life Premiums (Egypt 2013-2020) 11
Table: Life Insurance Claims (Egypt 2008-2014) 11
Non-Life Premiums Forecast 12
Table: Non-Life Premiums (Egypt 2013-2020) 15
Table: Non-Life Insurance Claims (Egypt 2009-2014) 17
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 - Q216 29
Market Overview 31
Life Market Overview 31
The Product Offering 31
The Competitive Landscape 31
Table: Life Insurance Market (USDmn), 2011-2012 32
Non-Life Market Overview 33
The Product Offering 33
The Competitive Landscape 34
Table: Non-Life Insurance Market (USDmn), 2011-2012 35
Company Profile 36
American International Group (AIG) 36
Gulf Insurance Group (GIG) 38
MetLife 41
Misr Insurance Holding Company 43
Methodology 46
Industry Forecast Methodology 46
Risk/Reward Index Methodology 49
Table: Indicators 51
Table: Weighting of Indicators 52

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