Personal Accident and Health Insurance in Egypt, Key Trends and Opportunities to 2021

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Published: October 17, 2017 Report Code: GD-IS1593MR-ST

Report Overview
Key Players
Table of Contents
Table
Figures

GlobalData’s 'Personal Accident and Health Insurance in Egypt Key Trends and Opportunities to 2021' report provides a detailed outlook by product category for the Egyptian personal accident and health insurance segment, and a comparison of the Egyptian insurance industry with its regional counterparts.

It provides key performance indicators such as written premium, incurred loss, loss ratio, commissions and expenses, combined ratio, total assets, total investment income and retentions during the review period (2012–2016) and forecast period (2016–2021).

The report also analyzes distribution channels operating in the segment, gives a comprehensive overview of the Egyptian economy and demographics, and provides detailed information on the competitive landscape in the country.

The report brings together GlobalData’s research, modeling and analysis expertise, giving insurers access to information on segment dynamics and competitive advantages, and profiles of insurers operating in the country. The report also includes details of insurance regulations, and recent changes in the regulatory structure.

Scope

This report provides a comprehensive analysis of the personal accident and health insurance segment in Egypt:

• It provides historical values for the Egyptian personal accident and health insurance segment for the report’s 2012–2016 review period, and projected figures for the 2016–2021 forecast period.

• It offers a detailed analysis of the key categories in the Egyptian personal accident and health insurance segment, and market forecasts to 2021.

• It provides a comparison of the Egyptian personal accident and health insurance segment with its regional counterparts

• It provides an overview of the various distribution channels for personal accident and health insurance products in Egypt.

• It profiles the top personal accident and health insurance companies in Egypt, and outlines the key regulations affecting them.

Key Highlights

• In February 2017, the Egyptian Financial Supervisory Authority (EFSA) announced plans to increase the minimum capital requirement for insurers from EGP60.0 million (US$7.8 million) to EGP200.0 million (US$26.0 million).

• During the review period 2012–2016, the Egyptian personal accident and health insurance segment grew at a CAGR of 19.7%.

• In September 20, 2016 the government of Egypt signed an agreement with African Development Bank (AFDB). AFDB will contribute EGP1.9 million (US$252,000.0) to the development of actuarial studies on health and social insurance in Egypt.

• According to the World Health Organization (WHO), Egypt loses around 12,000 lives every year to road accidents.

Reasons to Buy

• Make strategic business decisions using in-depth historic and forecast market data related to the Egyptian personal accident and health insurance segment, and each category within it.

• Understand the demand-side dynamics, key market trends and growth opportunities in the Egyptian personal accident and health insurance segment.

• Assess the competitive dynamics in the personal accident and health insurance segment.

• Identify growth opportunities and market dynamics in key product categories.

• Gain insights into key regulations governing the Egyptian insurance industry, and their impact on companies and the industry's future.

Misr Insurance Company
Bupa Egypt
Suez Canal
Egyptian Takaful Insurance Property
AIG Egypt
Allianz Insurance Egypt
AXA Insurance
Delta Insurance Company
Egyptian Cooperative Insurance Association
Arab Misr Insurance Group (GIG)

1 Key Facts and Highlights

2 Executive Summary

3 Economy and Demographics

4 Segment Outlook

4.1 Regional Comparison

4.2 Segment Indicators

4.2.1 Gross written premium and penetration

4.2.2 Claims

4.2.3 Profitability

4.2.4 Assets and investments

5 Outlook by Category

5.1 Personal Accident Insurance

5.1.1 Premium

5.1.2 Claims

5.1.3 Profitability

5.2 Health Insurance

5.2.1 Premium

5.2.2 Claims

5.2.3 Profitability

6 Distribution Channel Outlook

7 Competitive Landscape

7.1 Company Profiles

7.1.1 Misr Insurance Company – company overview

7.1.2 Bupa Egypt Insurance Company – company overview

7.1.3 Suez Canal Insurance Company – company overview

7.1.4 Egyptian Takaful Insurance Property Company – company overview

7.1.5 AIG Egypt Insurance Company SAE – company overview

8 Governance, Risk and Compliance

8.1 Legislation Overview and Historical Evolution

8.2 Latest Changes in Regulation

8.3 Legislation and Market Practice by Type of Insurance

8.3.1 Life insurance

8.3.2 Property insurance

8.3.3 Motor insurance

8.3.4 Liability insurance

8.3.5 Marine, aviation and transit insurance

8.3.6 Personal accident and health insurance

8.4 Compulsory Insurance

8.4.1 Motor third-party liability insurance

8.4.2 Social Insurance System

8.4.3 Aviation third-party liability insurance

8.5 Supervision and Control

8.5.1 International Association of Insurance Supervisors

8.5.2 Egyptian Financial Supervisory Authority

8.5.3 Insurance Federation of Egypt

8.6 Non-Admitted Insurance Regulations

8.6.1 Overview

8.6.2 Intermediaries

8.6.3 Market practices

8.6.4 Fines and Penalties

8.7 Company Registration and Operations

8.7.1 Type of insurance organization

8.7.2 Establishing a local company

8.7.3 Foreign ownership

8.7.4 Types of license

8.7.5 Capital requirements

8.7.6 Solvency margin

8.7.7 Reserve requirements

8.7.8 Investment regulations

8.7.9 Statutory return requirements

8.7.10 Fee structure

8.8 Taxation

8.8.1 Insurance premium or policy taxation

8.8.2 Withholding taxes on premium paid overseas

8.8.3 Corporate tax

8.8.4 VAT

8.8.5 Captives

8.9 Legal System

8.9.1 Introduction

8.9.2 Access to court

8.9.3 Alternative dispute resolution

9 Databook

9.1 Policies and Premium

9.2 Claims and Expenses

9.3 Assets and Investments

9.4 Personal Accident Insurance

9.5 Health Insurance

10 Definitions and Methodology

10.1 Definitions

10.2 Methodology

11 About GlobalData

11.1 Contact GlobalData

11.2 About GlobalData

11.3 GlobalData’s Services

11.4 Disclaimer

Table

Table 1: Egyptian Personal Accident and Health Insurance – Key Facts, 2016

Table 2: Egyptian Personal Accident and Health Insurance – Segment Shares of the Top Insurers, 2016

Table 3: Egyptian Government Credit Ratings

Table 4: Egyptian Motor Insurance – Road Accident Numbers, 2011–2015

Table 5: Egyptian Personal Accident and Health Insurance – Gross Written Premium (EGP Billion and US$ Million), 2012–2016

Table 6: Egyptian Personal Accident and Health Insurance – Penetration (%), 2012–2016

Table 7: Egyptian Personal Accident and Health Insurance – Gross Written Premium (EGP Billion and US$ Million), 2016–2021

Table 8: Egyptian Personal Accident and Health Insurance – Penetration (%), 2016–2021

Table 9: Egyptian Personal Accident and Health Insurance – Premium per Capita (EGP and US$), 2012–2016

Table 10: Egyptian Personal Accident and Health Insurance – Premium per Capita (EGP and US$), 2016–2021

Table 11: Egyptian Personal Accident and Health Insurance – Paid Claims (EGP Million and US$ Million), 2012–2016

Table 12: Egyptian Personal Accident and Health Insurance – Paid Claims (EGP Million and US$ Million), 2016–2021

Table 13: Egyptian Personal Accident and Health Insurance – Profitability Ratio (%), 2012–2016

Table 14: Egyptian Personal Accident and Health Insurance – Profitability Ratio (%), 2016–2021

Table 15: Egyptian Personal Accident and Health Insurance – Total Assets (EGP Billion and US$ Million), 2012–2016

Table 16: Egyptian Personal Accident and Health Insurance – Total Assets (EGP Billion and US$ Million), 2016–2021

Table 17: Egyptian Personal Accident and Health Insurance – Total Investment Income (EGP Million and US$ Million), 2012–2016

Table 18: Egyptian Personal Accident and Health Insurance – Total Investment Income (EGP Million and US$ Million), 2016–2021

Table 19: Egyptian Personal Accident and Health Insurance – Investment Portfolio (EGP Billion), 2012–2016

Table 20: Egyptian Personal Accident and Health Insurance – Investment Portfolio (EGP Billion), 2016–2021

Table 21: Egyptian Personal Accident and Health Insurance – Direct Written Premium by Category (EGP Billion), 2012–2016

Table 22: Egyptian Personal Accident and Health Insurance – Direct Written Premium by Category (EGP Billion), 2016–2021

Table 23: Egyptian Personal Accident Insurance – Direct Written Premium (EGP Million and US$ Million), 2012–2016

Table 24: Egyptian Personal Accident Insurance – Direct Written Premium (EGP Million and US$ Million), 2016–2021

Table 25: Egyptian Personal Accident Insurance – Paid Claims (EGP Million and US$ Million), 2012–2016

Table 26: Egyptian Personal Accident Insurance – Paid Claims (EGP Million and US$ Million), 2016–2021

Table 27: Egyptian Personal Accident Insurance – Loss Ratio (%), 2012–2016

Table 28: Egyptian Personal Accident Insurance – Loss Ratio (%), 2016–2021

Table 29: Egyptian Health Insurance – Direct Written Premium (EGP Billion and US$ Million), 2012–2016

Table 30: Egyptian Health Insurance – Direct Written Premium (EGP Billion and US$ Million), 2016–2021

Table 31: Egyptian Health Insurance – Paid Claims (EGP Million and US$ Million), 2012–2016

Table 32: Egyptian Health Insurance – Paid Claims (EGP Million and US$ Million), 2016–2021

Table 33: Egyptian Health Insurance – Loss Ratio (%), 2012–2016

Table 34: Egyptian Health Insurance – Loss Ratio (%), 2016–2021

Table 35: Egyptian Personal Accident and Health Insurance – Segment Shares of the Leading Insurers (%), 2016

Table 36: Misr Insurance Company – Key Facts

Table 37: Misr Insurance Company – Key Financials (EGP Million), 2012–2016

Table 38: Misr Insurance Company – Key Facts

Table 39: Misr Insurance Company – Key Financials (EGP Million), 2012–2016

Table 40: Suez Canal Insurance Company – Key Facts

Table 41: Suez Canal Insurance Company – Key Financials (EGP Million), 2012–2016

Table 42: Misr Insurance Company – Key Facts

Table 43: Misr Insurance Company – Key Financials (EGP Million), 2012–2016

Table 44: AIG Egypt Insurance Company SAE – Key Facts

Table 45: AIG Egypt Insurance Company SAE – Key Financials (EGP Million), 2012–2016

Table 46: Egypt – Insurance Regulatory Framework Key Features

Table 47: Egypt – Life Insurance Regulatory Framework

Table 48: Egypt – Property Insurance Regulatory Framework

Table 49: Egypt – Motor Insurance Regulatory Framework

Table 50: Egypt – Liability Insurance Regulatory Framework

Table 51: Egypt – Corporate Tax Rates for the Financial Year 2017

Table 52: Egyptian Personal Accident and Health Insurance Industry – Policies and Premium, 2012–2016

Table 53: Egyptian Personal Accident and Health Insurance Industry – Policies and Premium, 2016–2021

Table 54: Egyptian Personal Accident and Health Insurance – Claims and Expenses, 2012–2016

Table 55: Egyptian Personal Accident and Health Insurance – Claims and Expenses, 2016–2021

Table 56: Egyptian Personal Accident and Health Insurance – Assets and Investments, 2012–2016

Table 57: Egyptian Personal Accident and Health Insurance – Assets and Investments, 2016–2021

Table 58: Egyptian Personal Accident and Health Insurance – Personal Accident Insurance, 2012–2016

Table 59: Egyptian Personal Accident and Health Insurance – Personal Accident Insurance, 2016–2021

Table 60: Egyptian Personal Accident and Health Insurance – Health Insurance, 2012–2016

Table 61: Egyptian Personal Accident and Health Insurance – Health Insurance, 2016–2021

Table 62: Insurance Industry Definitions

Figures

Figure 1: Egyptian Real GDP (EGP Trillion), 2012–2021

Figure 2: Egyptian Inflation Rate, 2012–2021

Figure 3: Egyptian EGP–US$ Exchange Rate, 2012–2016

Figure 4: Egyptian Current Account Balance (% of GDP), 2012–2016

Figure 5: Egyptian Unemployment Rate, 2012–2021

Figure 6: Egyptian Population by Age Group, 1996–2025

Figure 7: Egyptian Personal Accident and Health Insurance Penetration – Regional Comparison (%), 2016

Figure 8: Egyptian Insurance Segment By Direct Written Premium Shares – Regional Comparison (%), 2016

Figure 9: Egyptian Personal Accident and Health Insurance – Gross Written Premium (EGP Billion), 2012–2021

Figure 10: Egyptian Personal Accident and Health Insurance – Penetration (%), 2012–2021

Figure 11: Egyptian Personal Accident and Health Insurance – Premium per Capita (EGP), 2012–2021

Figure 12: Egyptian Personal Accident and Health Insurance – Paid Claims (EGP Million), 2012–2021

Figure 13: Egyptian Personal Accident and Health Insurance – Profitability Ratio (%), 2012–2021

Figure 14: Egyptian Personal Accident and Health Insurance – Total Assets (EGP Billion), 2012–2021

Figure 15: Egyptian Personal Accident and Health Insurance – Total Investment Income (EGP Million), 2012–2021

Figure 16: Egyptian Personal Accident and Health Insurance – Investment Portfolio (EGP Billion), 2012–2021

Figure 17: Egyptian Personal Accident and Health Insurance – Investment Portfolio Dynamics by Types of Investment, 2012–2021

Figure 18: Egyptian Personal Accident and Health Insurance – Direct Written Premium by Category (EGP Billion), 2012–2021

Figure 19: Egyptian Personal Accident and Health Insurance – Direct Written Premium Dynamics by Category, 2012–2021

Figure 20: Egyptian Personal Accident Insurance – Direct Written Premium (EGP Million), 2012–2021

Figure 21: Egyptian Personal Accident Insurance – Paid Claims (EGP Million), 2012–2021

Figure 22: Egyptian Personal Accident Insurance – Earned Premium, Incurred Loss and Loss Ratio (EGP Million and %), 2012–2021

Figure 23: Egyptian Health Insurance – Direct Written Premium (EGP Billion), 2012–2021

Figure 24: Egyptian Health Insurance – Paid Claims (EGP Million), 2012–2021

Figure 25: Egyptian Health Insurance – Earned Premium, Incurred Loss and Loss Ratio (EGP Million and %), 2012–2021

Figure 26: Egyptian Personal Accident and Health Insurance – Segment Shares of the Leading Insurers (%), 2016

Figure 27: Egypt– Insurance Supervision and Control at Various Levels

Figure 28: Egypt – Insurance Regulatory Frameworks for Company Registration and Operation

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