Egypt Insurance Report

Providing expert analysis, independent forecasts and competitive intelligence on the insurance industry.

Report includes: BMI Industry View, Industry SWOT Analysis, Industry Forecasts, BMI's Insurance Risk Reward Index and Company Profiles.

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  • Gain insight on emerging trends that could support, strengthen or disrupt your activities in the market
  • Get a full view of the competitive landscape to assess your market position
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Egypt Insurance Report
Product Price
$1,295.00

BMI View: Egypt's insurance market faces significant structural challenges, including cultural barriers to traditional insurance cover and low household income rates which limits demand. The market is evolving, however, and significant gr owth potential is presented by t akaful insurance and microinsurance products which make cover more affordable. We do expect to see slow but steady growth in both life and non-life insurance premiums over our five year forecast period to 2019, supported by domestic economic growth and an improving regulatory environment which is likely to attract more foreign firms to the market.

Headline Insurance Forecasts (Egypt 2012-2019)
Indicator 2012 2013 2014e 2015f 2016f 2017f 2018f 2019f
BMI/EFSA
Gross life premiums written, EGPbn 4.49 5.27 5.84 6.46 7.10 7.76 8.40 9.00
Gross life premiums written, EGP, % y-o-y 12.0 17.4 10.9 10.5 10.0 9.3 8.2 7.2
Gross life premiums written, USDbn 0.74 0.77 0.83 0.83 0.86 0.90 0.93 0.97
Gross life premiums written, USD, % y-o-y 9.7 3.7 7.7 0.2 3.5 4.9 3.4 4.3
Gross non-life premiums written, EGPbn 6.53 7.52 7.61 8.55 9.54 10.56 11.62 12.58
Gross non-life premiums written, EGP, % y-o-y 6.6 15.1 1.1 12.4 11.5 10.7 10.1 8.3
Gross non-life premiums written, USDbn 1.08 1.09 1.07 1.10 1.15 1.22 1.28 1.35
Gross non-life premiums written, USD, % y-o-y 4.4 1.7 -1.9 2.0 4.9 6.2 5.2 5.3

Key Updates And Forecasts

  • The Egyptian Financial Supervisory Authority (EFSA) reports that total assets of private insurance funds reach EGP48.2bn (USD6.1bn) in the 2014-15 financial year, up 10% on 2013-14. EFSA also reported licences had been granted for 18 new investment funds in the private insurance sector, bringing the number of insurance funds to 625 with over 4.6mn members.

  • Reforms to Egypt's public health insurance system are ongoing with media reports indicating the new health insurance law which will introduce compulsory health insurance contributions for individuals and employers is being finalised.

  • At present we are forecasting annual growth of around 3.3% in Egypt's nascent life insurance sector, with premiums rising from USD830mn in 2015 to USD970mn in 2019.

  • The slightly larger non-life sector is expected to record stronger growth of 4.7% annually throughout the forecast period indicating premiums will rise from USD1.1bn in 2015 to USD1.4bn in 2019.

BMI Industry View
7
SWOT
9
Insurance
9
Political
11
Economic
12
Operational Risk
14
Industry Forecast
16
Life Premiums Forecast
16
Premiums
17
Table: Gross Life Premiums Written (Egypt 2012-2019)
18
Table: Net Life Premiums Written (Egypt 2012-2019)
18
Claims
19
Table: Life Insurance Claims (Egypt 2007-2014)
19
Life Insurance Drivers
19
Table: Life Expectancy by Gender (Egypt 2012-2019)
20
Table: Demographic Breakdown (Egypt 2012-2019)
21
Non-Life Premiums Forecast
22
Premiums
22
Table: Gross Non-Life Premiums Written (Egypt 2012-2019)
23
Table: Net Non-Life Premiums Written (Egypt 2012-2019)
24
Reinsurance
24
Table: Reinsurance Non-Life Premiums Written (Egypt 2012-2019)
25
Claims
25
Table: Non-Life Insurance Claims (Egypt 2007-2013)
25
Table: Non-Life Insurance Claims by Line (Egypt 2007-2013)
27
Non-Life Subsector Forecast
28
Table: Non-Life % Breakdown (Egypt 2012-2019)
29
Motor Vehicle Insurance
29
Table: Motor Vehicle Insurance (Egypt 2012-2019)
30
Table: Insurance Key Drivers, Autos (Egypt 2012-2019)
30
Transport Insurance
31
Table: Transport Insurance (Egypt 2012-2019)
31
Table: Insurance Key Drivers, Freight Tonnage (Egypt 2012-2019)
32
Property Insurance
32
Table: Property Insurance (Egypt 2012-2019)
33
Health Insurance
33
Table: Health Insurance (Egypt 2012-2019)
34
Table: Insurance Key Drivers, Private Health Expenditure (Egypt 2012-2019)
34
Personal Accident Insurance
34
Table: Personal Accident Insurance (Egypt 2012-2019)
35
Insurance Risk/Reward Index
36
MENA Insurance Risk/Reward Index
36
Table: MENA Insurance Risk/Reward Index
37
Market Overview
38
Life Market Overview
38
The Product Offering
38
The Competitive Landscape
38
Table: Life Insurance Market (%), 2011-2012
40
Non-Life Market Overview
41
The Product Offering
41
The Competitive Landscape
41
Table: Non-Life Insurance Market (USDmn), 2011-2012
42
Company Profile
44
American International Group (AIG)
44
Gulf Insurance Group (GIG)
46
MetLife
49
Misr Insurance Holding Company
52
Demographic Forecast
55
Demographic Outlook
55
Table: Population Headline Indicators (Egypt 1990-2025)
56
Table: Key Population Ratios (Egypt 1990-2025)
56
Table: Urban/Rural Population & Life Expectancy (Egypt 1990-2025)
57
Table: Population By Age Group (Egypt 1990-2025)
57
Table: Population By Age Group % (Egypt 1990-2025)
58
Methodology
60
Industry Forecast Methodology
60
Risk/Reward Index Methodology
63
Table: Indicators
65
Table: Weighting of Indicators
66

The Egypt Insurance Report has been researched at source and features BMI Research's independent assessment and forecasts for the insurance sector. It examines industry developments, key growth drivers and risk management projections, including the macroeconomic situation, government policy, regulatory environment and the level of development and potential for growth, broken down by line. Leading insurers are profiled, covering premiums, products and services and competitive positioning.

BMI's Egypt Insurance Report provides professionals, consultancies, government departments, regulatory bodies and researchers with independent forecasts and regional competitive intelligence on the Egyptian insurance industry.

Key Benefits

  • Benchmark BMI's independent insurance industry forecasts for Egypt to test other views - a key input for successful budgeting and strategic business planning in Egypt's insurance market.
  • Target business opportunities and risks in Egypt through our reviews of latest industry trends, regulatory changes and major deals, investments and macroeconomic developments.
  • Exploit latest competitive intelligence on your competitors, partners and clients via our Company Profiles (inc. SWOTs, KPIs and latest activity).

Coverage

BMI Industry View

Summary of BMI’s key industry forecasts and views, covering the Life and Non-Life segments, the evolving competitive landscape and business operational risks.

Industry SWOT Analysis

Analysis of the major Strengths, Weaknesses, Opportunities and Threats within the insurance sector and within the broader political, economic and business environment.

BMI Industry Forecasts

Historic data series (2005-2014) and forecasts to end-2019 for key industry indicators, supported by explicit assumptions, plus analysis of key risks to the main forecasts. Indicators include:

  • Life/non-life Premiums: Total premium growth (USDmn), premium growth (% y-o-y), penetration (% of GDP), density (USD per capita) for Life and Non-Life sectors, claims reinsurance, and assets and liabilities.
  • Non-life subsectors: Data on gross written premiums for all major Non-Life segments (motor, transport, property, personal accident, health, general liability and credit financial).

BMI’s Insurance Risk Reward Index

BMI’s Risk Reward Indices provide investors (Life and Non-Life) looking for opportunities in the region with a clear country-comparative assessment of a market’s risks and potential rewards. Each of the country markets are scored using a sophisticated model that includes more than 40 industry, economic and demographic data points to provide an indices of highest to lowest appeal to investors, with each position explained.

Company Profiles*

Examines the competitive positioning and short- to medium-term business strategies of key industry players. The latest financial and operating statistics and key company developments are also incorporated within the company profiles, enabling a full evaluation of recent company performance and future growth prospects.

Growth Drivers & Risk Management Projections

Key data and forecasts to end-2019 focusing on the growth drivers and downside risks to specific insurance lines including:

  • Population: Male/female, by age group, active/pensionable/youth population % of total, urban/rural population % of total.
  • Freight: Tonnage – air freight, rail freight, road freight, inland waterway.
  • Motor: Fleet size by type of vehicle % change y-o-y.
  • Epidemiology: Disease Adjusted Life Years and private health expenditure.

Market Overview & Rankings

Illustration of the insurance industry via rankings tables comparing gross written premiums by company (USDmn) and market share (%) for the top 20 players in both Life and Non-Life. This chapter also includes in-depth regional analysis of the market position, business strategies and investment potential of the leading insurance companies.

Sources

The insurance Reports draw on an extensive network of primary sources, such as multilateral organisations, government departments, industry associations, chambers and company reports.

*Company profiles are not available for every country. Those reports instead contain information on the current activities of prominent companies operating in the market.