Non-Life Insurance in Egypt, Key Trends and Opportunities to 2021

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Published: October 17, 2017 Report Code: GD-IS1592MR-ST

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GlobalData’s 'Non-Life Insurance in Egypt Key Trends and Opportunities to 2021' report provides a detailed outlook by product category for the Egyptian non-life insurance segment, and a comparison of the Egyptian insurance industry with its regional counterparts.

It provides values for 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, explains the various types of natural hazard and their impact on the Egyptian insurance industry, 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 non-life insurance segment in Egypt:

• It provides historical values for the Egyptian non-life 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 non-life insurance segment, and market forecasts to 2021.

• It provides a comparison of the Egyptian non-life insurance segment with its regional counterparts

• It analyzes the various distribution channels for non-life insurance products in Egypt.

• It analyzes various natural hazards and their impact on the Egyptian insurance industry

• It profiles the top non-life 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)

• According to Em-Dat, Egypt’s total economic loss due to natural catastrophes valued EGP2.2 billion (US$213.9 million) during 1990–2016.

• In December 2016, EFSA approved the online distribution of microinsurance products.

• According to the Central Agency for Public Mobilization and Statistics (CAPMAS), total exports from Egypt rose from EGP1.0 trillion (US$159.9 billion) in 2012 to EGP1.8 trillion (US$178.2 billion) in 2016, at a review period CAGR of 15.8%.

Reasons to Buy

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

• Understand the demand-side dynamics, key market trends and growth opportunities in the Egyptian non-life insurance segment.

• Assess the competitive dynamics in the non-life 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
Arab Misr Insurance Group (GIG)
Suez Canal
Royal Insurance
Arab Orient Takaful Insurance – Property
Allianz Insurance – Egypt
Mohandes Insurance Company
Egyptian Takaful Insurance Property
AIG Egypt
Egyptian Saudi Insurance House

Table of Contents

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 Property Insurance

5.1.1 Product overview

5.1.2 Premium

5.1.3 Claims

5.1.4 Profitability

5.2 Motor Insurance

5.2.1 Product overview

5.2.2 Premium

5.2.3 Claims

5.2.4 Profitability

5.3 Liability Insurance

5.3.1 Product overview

5.3.2 Premium

5.3.3 Claims

5.3.4 Profitability

5.4 Marine, Aviation and Transit Insurance

5.4.1 Product overview

5.4.2 Premium

5.4.3 Claims

5.4.4 Profitability

6 Distribution Channel Outlook

7 Natural and Man-Made Hazards

7.1 Flooding

7.2 Extreme Temperature

7.3 Earthquakes

7.4 Dust and Sandstorms

7.5 Man-Made Disasters

7.6 Exposure

8 Competitive Landscape

8.1 Company Profiles

8.1.1 Misr Insurance Company – company overview

8.1.2 Arab Misr Insurance Group – company overview

8.1.3 Suez Canal Insurance Company – company overview

8.1.4 Royal Insurance Company – company overview

8.1.5 Arab Orient Takaful Insurance Company – company overview

9 Governance, Risk and Compliance

9.1 Legislation Overview and Historical Evolution

9.2 Latest Changes in Regulation

9.3 Legislation and Market Practice by Type of Insurance

9.3.1 Life insurance

9.3.2 Property insurance

9.3.3 Motor insurance

9.3.4 Liability insurance

9.3.5 Marine, aviation and transit insurance

9.3.6 Personal accident and health insurance

9.4 Compulsory Insurance

9.4.1 Motor third-party liability insurance

9.4.2 Social Insurance System

9.4.3 Aviation third-party liability insurance

9.5 Supervision and Control

9.5.1 International Association of Insurance Supervisors

9.5.2 Egyptian Financial Supervisory Authority

9.5.3 Insurance Federation of Egypt

9.6 Non-Admitted Insurance Regulations

9.6.1 Overview

9.6.2 Intermediaries

9.6.3 Market practices

9.6.4 Fines and Penalties

9.7 Company Registration and Operations

9.7.1 Type of insurance organization

9.7.2 Establishing a local company

9.7.3 Foreign ownership

9.7.4 Types of license

9.7.5 Capital requirements

9.7.6 Solvency margin

9.7.7 Reserve requirements

9.7.8 Investment regulations

9.7.9 Statutory return requirements

9.7.10 Fee structure

9.8 Taxation

9.8.1 Insurance premium or policy taxation

9.8.2 Withholding taxes on premium paid overseas

9.8.3 Corporate tax

9.8.4 VAT

9.8.5 Captives

9.9 Legal System

9.9.1 Introduction

9.9.2 Access to court

9.9.3 Alternative dispute resolution

10 Databook

10.1 Policies and Premium

10.2 Claims and Expenses

10.3 Assets and Investments

10.4 Property Insurance

10.5 Property Insurance by Product

10.6 Motor Insurance

10.7 Motor Insurance by Product

10.8 Liability Insurance

10.9 Marine, Aviation and Transit Insurance

11 Definitions and Methodology

11.1 Definitions

11.2 Methodology

12 About GlobalData

12.1 Contact GlobalData

12.2 About GlobalData

12.3 GlobalData’s Services

12.4 Disclaimer

Table

Table 1: Egyptian Non-Life Insurance – Key Facts, 2016

Table 2: Egyptian Non-Life Insurance – Segment Shares of the Top Insurers, 2016

Table 3: Egyptian Government Credit Ratings

Table 4: Egyptian Non-Life Insurance – Gross Written Premium (EGP Billion and US$ Million), 2012–2016

Table 5: Egyptian Non-Life Insurance – Penetration (%), 2012–2016

Table 6: Egyptian Non-Life Insurance – Gross Written Premium (EGP Billion and US$ Million), 2016–2021

Table 7: Egyptian Non-Life Insurance – Penetration (%), 2016–2021

Table 8: Egyptian Non-Life Insurance – Premium per Capita (EGP and US$), 2012–2016

Table 9: Egyptian Non-Life Insurance – Premium per Capita (EGP and US$), 2016–2021

Table 10: Egyptian Non-Life Insurance – Paid Claims (EGP Billion and US$ Million), 2012–2016

Table 11: Egyptian Non-Life Insurance – Paid Claims (EGP Billion and US$ Million), 2016–2021

Table 12: Egyptian Non-Life Insurance – Profitability Ratio (%), 2012–2016

Table 13: Egyptian Non-Life Insurance – Profitability Ratio (%), 2016–2021

Table 14: Egyptian Non-Life Insurance – Total Assets (EGP Billion and US$ Billion), 2012–2016

Table 15: Egyptian Non-Life Insurance – Total Assets (EGP Billion and US$ Billion), 2016–2021

Table 16: Egyptian Non-Life Insurance – Total Investment Income (EGP Billion and US$ Million), 2012–2016

Table 17: Egyptian Non-Life Insurance – Total Investment Income (EGP Billion and US$ Million), 2016–2021

Table 18: Egyptian Non-Life Insurance – Investment Portfolio (EGP Billion), 2012–2016

Table 19: Egyptian Non-Life Insurance – Investment Portfolio (EGP Billion), 2016–2021

Table 20: Egyptian Non-Life Insurance – Direct Written Premium by Category (EGP Billion), 2012–2016

Table 21: Egyptian Non-Life Insurance – Direct Written Premium by Category (EGP Billion), 2016–2021

Table 22: Egyptian Property Insurance – Direct Written Premium by Sub-Category (EGP Billion), 2012–2016

Table 23: Egyptian Property Insurance – Direct Written Premium by Sub-Category (EGP Billion), 2016–2021

Table 24: Egyptian Property Insurance – Paid Claims (EGP Million and US$ Million), 2012–2016

Table 25: Egyptian Property Insurance – Paid Claims (EGP Million and US$ Million), 2016–2021

Table 26: Egyptian Property Insurance – Loss Ratio (%), 2012–2016

Table 27: Egyptian Property Insurance – Loss Ratio (%), 2016–2021

Table 28: Egyptian Motor Insurance – Direct Written Premium by Sub-Category (EGP Billion), 2012–2016

Table 29: Egyptian Motor Insurance – Direct Written Premium by Sub-Category (EGP Billion), 2016–2021

Table 30: Egyptian Motor Insurance – Paid Claims (EGP Billion and US$ Million), 2012–2016

Table 31: Egyptian Motor Insurance – Paid Claims (EGP Billion and US$ Million), 2016–2021

Table 32: Egyptian Motor Insurance – Loss Ratio (%), 2012–2016

Table 33: Egyptian Motor Insurance – Loss Ratio (%), 2016–2021

Table 34: Egyptian Liability Insurance – Direct Written Premium (EGP Million and US$ Million), 2012–2016

Table 35: Egyptian Liability Insurance – Direct Written Premium (EGP Million and US$ Million), 2016–2021

Table 36: Egyptian Liability Insurance – Paid Claims (EGP Million and US$ Million), 2012–2016

Table 37: Egyptian Liability Insurance – Paid Claims (EGP Million and US$ Million), 2016–2021

Table 38: Egyptian Liability Insurance – Loss Ratio (%), 2012–2016

Table 39: Egyptian Liability Insurance – Loss Ratio (%), 2016–2021

Table 40: Egyptian Transport Network – Global Rankings

Table 41: Egyptian Marine, Aviation and Transit Insurance – Direct Written Premium (EGP Million and US$ Million), 2012–2016

Table 42: Egyptian Marine, Aviation and Transit Insurance – Direct Written Premium (EGP Million and US$ Million), 2016–2021

Table 43: Egyptian Marine, Aviation and Transit Insurance – Paid Claims (EGP Million and US$ Million), 2012–2016

Table 44: Egyptian Marine, Aviation and Transit Insurance – Paid Claims (EGP Million and US$ Million), 2016–2021

Table 45: Egyptian Marine, Aviation and Transit Insurance – Loss Ratio (%), 2012–2016

Table 46: Egyptian Marine, Aviation and Transit Insurance – Loss Ratio (%), 2016–2021

Table 47: Egyptian Non-Life Insurance – Segment Shares of the Leading Insurers (%), 2016

Table 48: Misr Insurance Company – Key Facts

Table 49: Misr Insurance Company – Key Financials (EGP Million), 2012–2016

Table 50: Arab Misr Insurance Group – Key Facts

Table 51: Arab Misr Insurance Group – Key Financials (EGP Million), 2012–2016

Table 52: Suez Canal Insurance Company – Key Facts

Table 53: Suez Canal Insurance Company – Key Financials (EGP Million), 2012–2016

Table 54: Royal Insurance Company – Key Facts

Table 55: Royal Insurance Company – Key Financials (EGP Million), 2012–2016

Table 56: Arab Orient Takaful Insurance Company – Key Facts

Table 57: Arab Orient Takaful Insurance Company – Key Financials (EGP Million), 2012–2016

Table 58: Egypt – Insurance Regulatory Framework Key Features

Table 59: Egypt – Life Insurance Regulatory Framework

Table 60: Egypt – Property Insurance Regulatory Framework

Table 61: Egypt – Motor Insurance Regulatory Framework

Table 62: Egypt – Liability Insurance Regulatory Framework

Table 63: Egypt – Corporate Tax Rates for the Financial Year 2017

Table 64: Egyptian Insurance Industry – Policies and Premium, 2012–2016

Table 65: Egyptian Insurance Industry – Policies and Premium, 2016–2021

Table 66: Egyptian Non-Life Insurance – Claims and Expenses, 2012–2016

Table 67: Egyptian Non-Life Insurance – Claims and Expenses, 2016–2021

Table 68: Egyptian Non-Life Insurance – Assets and Investments, 2012–2016

Table 69: Egyptian Non-Life Insurance – Assets and Investments, 2016–2021

Table 70: Egyptian Non-Life Insurance – Property Insurance, 2012–2016

Table 71: Egyptian Non-Life Insurance – Property Insurance, 2016–2021

Table 72: Egyptian Non-Life Insurance – Property Insurance by Product, 2012–2016

Table 73: Egyptian Non-Life Insurance – Property Insurance by Product, 2016–2021

Table 74: Egyptian Non-Life Insurance – Motor Insurance, 2012–2016

Table 75: Egyptian Non-Life Insurance – Motor Insurance, 2016–2021

Table 76: Egyptian Non-Life Insurance – Motor Insurance by Product, 2012–2016

Table 77: Egyptian Non-Life Insurance – Motor Insurance by Product, 2016–2021

Table 78: Egyptian Non-Life Insurance – Liability Insurance, 2012–2016

Table 79: Egyptian Non-Life Insurance – Liability Insurance, 2016–2021

Table 80: Egyptian Non-Life Insurance – Marine, Aviation and Transit Insurance, 2012–2016

Table 81: Egyptian Non-Life Insurance – Marine, Aviation and Transit Insurance, 2016–2021

Table 82: 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 Non-Life Insurance Penetration – Regional Comparison (%), 2016

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

Figure 9: Egyptian Non-Life Insurance – Gross Written Premium (EGP Billion), 2012–2021

Figure 10: Egyptian Non-Life Insurance – Penetration (%), 2012–2021

Figure 11: Egyptian Non-Life Insurance – Premium per Capita (EGP), 2012–2021

Figure 12: Egyptian Non-Life Insurance – Paid Claims (EGP Billion), 2012–2021

Figure 13: Egyptian Non-Life Insurance – Profitability Ratio (%), 2012–2021

Figure 14: Egyptian Non-Life Insurance – Total Assets (EGP Billion), 2012–2021

Figure 15: Egyptian Non-Life Insurance – Total Investment Income (EGP Billion), 2012–2021

Figure 16: Egyptian Non-Life Insurance – Investment Portfolio (EGP Billion), 2012–2021

Figure 17: Egyptian Non-Life Insurance – Investment Portfolio Dynamics by Types of Investment, 2012–2021

Figure 18: Egyptian Non-Life Insurance – Direct Written Premium by Category (EGP Billion), 2012–2021

Figure 19: Egyptian Non-Life Insurance – Direct Written Premium Dynamics by Category, 2012–2021

Figure 20: Egyptian Property Insurance – Direct Written Premium by Sub-Category (EGP Billion), 2012–2021

Figure 21: Egyptian Property Insurance – Direct Written Premium Dynamics by Sub-Category, 2012–2021

Figure 22: Egyptian Property Insurance – Paid Claims (EGP Million), 2012–2021

Figure 23: Egyptian Property Insurance – Earned Premium, Incurred Loss and Loss Ratio (EGP Billion and %), 2012–2021

Figure 24: Total Number of Road Accidents in Egypt, 2012–2021

Figure 25: Egyptian Motor Insurance – Direct Written Premium by Sub-Category (EGP Billion), 2012–2021

Figure 26: Egyptian Motor Insurance – Direct Written Premium Dynamics by Sub-Category, 2012–2021

Figure 27: Egyptian Motor Insurance – Paid Claims (EGP Billion), 2012–2021

Figure 28: Egyptian Motor Insurance – Earned Premium, Incurred Loss and Loss Ratio (EGP Billion and %), 2012–2021

Figure 29: Egyptian Liability Insurance – Direct Written Premium (EGP Million), 2012–2021

Figure 30: Egyptian Liability Insurance – Paid Claims (EGP Million), 2012–2021

Figure 31: Egyptian Liability Insurance – Earned Premium, Incurred Loss and Loss Ratio (EGP Million and %), 2012–2021

Figure 32: Total Export and Import in Egypt (EGP Trillion), 2012–2021

Figure 33: Egyptian Marine, Aviation and Transit Insurance – Direct Written Premium (EGP Million), 2012–2021

Figure 34: Egyptian Marine, Aviation and Transit Insurance – Paid Claims (EGP Million), 2012–2021

Figure 35: Egyptian Marine, Aviation and Transit Insurance – Earned Premium, Incurred Loss and Loss Ratio (EGP Million and %), 2012–2021

Figure 36: Egyptian Non-Life Insurance – Segment Shares of the Leading Insurers (%), 2016

Figure 37: Egypt– Insurance Supervision and Control at Various Levels

Figure 38: Egypt – Insurance Regulatory Frameworks for Company Registration and Operation

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