Business Monitor International


Egypt Insurance Report

Published 15 August 2014

  • 82 pages
  • Instant access to your report online and PDF format through your account library
  • Includes 3 free updated quarterly reports
 
$1,295.00
Egypt Insurance Report

BMI View:   Overall, we anticipate that Egypt's insurance sector will enjoy steady growth over the forecast period. It should benefit from a period of stability, following political and economic volatility over the last few years. Challenges will continue to hinder the sector, particularly the non- life segment, as the central government attempts to reduce subsidies and high levels of debt. Moreover, we see little evidence of consolidation among non-life insurers, who will continue to achieve sub-prime profit due to extensive use of outwards re-insurance. Nevertheless, the market has shown itself to be remarkably resilient. In light of this, and regulatory changes, we may revise our forecasts upwards in the near future.

As of late-2014 premiums have recorded steady growth, despite continuing political instability. The Egyptian Financial Supervisory Agency (EFSA), the regulator of the non-bank financial sector, as well as other government ministries and agencies, have made a number of positive changes to the laws and regulations governing the insurance sector. EFSA remains committed to boosting the public's usage of and understanding of insurance. We anticipate that the lifting of the ban on bancassurance, the distribution of insurance products via banks, could give the market a significant boost. This is particularly relevant to smaller insurers, who lack alternative means of distribution.

Overall growth should be driven by the country's wider economic performance and the potential for greater political stability. As such we do not anticipate the insurance sector to establish a greater share of GDP, with little evidence of an alteration in the market's overall competitive landscape. Takaful insurance remains at an embryonic stage of development; however, it has the potential to be a source of significant growth. In part, this is due to the fact that it comes off a low base, commanding only a fraction of the market. However, takaful insurers have also...

Table of Contents

BMI Industry View
7
SWOT
9
Insurance
9
Political
11
Economic
12
Business Environment
14
Industry Forecast
15
Total Premiums Forecast
15
Premiums
15
Table: Total Gross Premiums Written (Egypt 2011-2018)
15
Table: Total Net Premiums Written (Egypt 2011-2018)
16
Claims
16
Table: Total Insurance Claims (Egypt 2006-2013)
17
Life Premiums Forecast
18
Premiums
19
Table: Gross Life Premiums Written (Egypt 2011-2018)
19
Table: Net Life Premiums Written (Egypt 2011-2018)
20
Claims
20
Table: Life Insurance Claims (Egypt 2006-2013)
20
Healthcare Spending
21
Table: Insurance Key Drivers, Private Health Expenditure (Egypt 2011-2018)
21
Table: Insurance Key Drivers, Disease Adjusted Life Years (Egypt 2011-2018)
22
Non-Life Premiums Forecast
23
Premiums
24
Table: Gross Non-Life Premiums Written (Egypt 2011-2018)
24
Table: Net Non-Life Premiums Written (Egypt 2011-2018)
25
Reinsurance
25
Table: Reinsurance Non-Life Premiums Written (Egypt 2011-2018)
25
Claims
26
Table: Non-Life Insurance Claims (Egypt 2006-2013)
26
Non-Life Subsector Forecast
27
Table: Non-Life % Breakdown (Egypt 2011-2018)
28
Motor Vehicle And Transport Insurance
28
Table: Motor Vehicle Insurance (Egypt 2011-2018)
29
Table: Insurance Key Drivers, Autos (Egypt 2011-2018)
29
Table: Transport Insurance (Egypt 2011-2018)
31
Table: Insurance Key Drivers, Freight Tonnage (Egypt 2011-2018)
31
Property Insurance
31
Table: Property Insurance (Egypt 2011-2018)
32
Health And Personal Accident Insurance
32
Table: Health Insurance (Egypt 2011-2018)
32
Table: Personal Accident Insurance (Egypt 2011-2018)
33
Industry Risk Reward Ratings
34
MEA Insurance Risk/Reward Ratings
34
Table: MENA Insurance Risk/Reward Ratings
35
Market Overview
36
Life Market Overview
36
Table: Life Insurance Market (%) 2011-2012
39
Non-Life Market Overview
40
Table: Non-Life Insurance Market (US$mn) 2011-2012
40
Company Profile
47
American International Group (AIG)
47
Gulf Insurance Group (GIG)
50
MetLife
53
Misr Insurance Holding Company
56
Demographic Forecast
60
Demographic Outlook
60
Table: Egypt's Population By Age Group, 1990-2020 ('000)
61
Table: Egypt's Population By Age Group, 1990-2020 (% of total)
62
Table: Egypt's Key Population Ratios, 1990-2020
63
Table: Egypt's Rural And Urban Population, 1990-2020
63
Methodology
64
Industry Forecast Methodology
64
Risk/Reward Rating Methodology
67
Table: Indicators
69
Table: Weighting of Indicators
70

The Egypt Insurance Report has been researched at source and features Business Monitor International (BMI)'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.

Regional Outlook

Individual analysis of both Life and Non-Life insurance sector developments and prospects across developed states and emerging markets - supported by BMI's global industry growth forecasts. This is followed by an in-depth evaluation of region- and country-specific trends, focusing on BMI's country-by-country market growth data.

Business Environment Rankings

BMI's Insurance Business Environment Rankings provide a country-comparative Risk-Reward Rankings index aimed at investors (Life and Non-Life) in the insurance market.

The rankings methodology makes sophisticated use of over 40 industry, economic and demographic data points and is part of BMI's integrated Country Risk-Industry Rankings products.

BMI Industry Forecasts

Historic data series (2008-2012) and forecasts to end-2018 for key industry and economic indicators (see list below) supported by explicit assumptions, plus analysis of key risks to the main forecasts. Indicators include:

Premiums: Total (US$mn), growth (% y-o-y), penetration (% of GDP), density (US$ per capita) for Life and Non-Life sectors, and total premiums.

Life: Data on gross written premiums for all major non-life segments (e.g. motor, fire, work).

Non-life: Data on gross written premiums for all major life segments (e.g. life, retirement).

Economic: Nominal GDP (US$bn), real GDP growth (%), GDP per capita (US$), population (mn), unemployment (%), exchange rate (against US$).

Competitive Landscape & Rankings

Illustration of the insurance industry via rankings tables comparing gross written premiums by company (US$mn) and market share (%). This chapter also includes in-depth regional analysis of the market position, business strategies and investment potential of the leading insurance companies.

Company Profiles

Examines the competitive positioning and short- to medium-term business strategies of key industry players. Strategy is examined within the context of BMI's industry forecasts, our macroeconomic views and our understanding of the wider competitive landscape. 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.

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Testimonials

'An essential, multi-faceted research tool. BMI’s thorough understanding of the major market players enables an informed – and informative – review of the sector’s actual performance, together with useful insights into current industry issues, which are topped-off with detailed and invaluable forecasts of industry and macroeconomic trends.’

Senior Research Analyst, ABC International Bank plc