Egyptian insurance market: 2016-2017
Egyptian insurance market features
- Regulatroy authority: Financial Regulatory Authority (FRA)
- Life and non life premiums (2017): 1.244 billion USD
- Insurance density (2016): 20.055 USD
- Penetration rate (2016): 0.59%
Egyptian insurance market structure in 2017
- Insurance companies: 35
- Non life insurance companies: 21
- Life insurance companies: 14
Profile
- Area: 1 010 408 Km2
- Population (1) (2016): 95 688 681 inhabitants
- GDP (2016): 332.791 billion USD
- GDP per capita (2016): 3 478 USD
- GDP’s growth rate (2016): 2.2%
- Inflation rate (2016): 6.2%
- Main business sectors: tourism, textile industry,
agriculture (cotton. rice), gas, oil
(1) Source World Bank
Major cities
(per number of inhabitants)
- Cairo (capital): 19 128 000
- Alexandria: 4 863 000
- Port Said: 604 000
- Suez: 565 000
Egyptian insurance market: Evolution of life and non life insurance premiums 2013-2017
Figures in thousands USD2013 | 2014 | 2015 | 2016 | 2017 | |
---|---|---|---|---|---|
Non life | 996 579 | 1 058 275 | 1 061 507 | 1 022 025 | 681 526 |
Life | 754 911 | 863 054 | 959 691 | 944 371 | 562 643 |
Total | 1 751 490 | 1 921 329 | 2 021 198 | 1 966 396 | 1 244 169 |
Read also | Ranking of insurance companies in Egypt
Ranking of non-life insurance companies in Egypt (2016-2017)
Figures in thousands2017 | 2016 | 2017 shares | 2016-2017 evolution (2) | |||
---|---|---|---|---|---|---|
In EGP (1) | In USD | In EGP (1) | In USD | |||
Public sector | ||||||
Misr Insurance | 5 660 190 | 312 895 | 4 353 616 | 493 874 | 45.9% | 30% |
Total public sector | 5 660 190 | 312 895 | 4 353 616 | 493 874 | 45.9% | 30% |
Private sector | ||||||
Bupa Egypt | 858 647 | 47 466 | 558 502 | 63 355 | 7% | 53.7% |
Suez Canal Insurance Company | 796 769 | 44 045 | 615 345 | 69 805 | 6.5% | 29.5% |
Arab Misr Insurance Group gig | 752 292 | 41 587 | 536 705 | 60 884 | 6.1% | 40.2% |
Orient Takaful Insurance Egypt | 562 917 | 31 118 | 350 085 | 39 714 | 4.6% | 60.8% |
Allianz Insurance Company | 542 088 | 29 967 | 344 400 | 39 069 | 4.4% | 57.4% |
Royal Insurance | 453 740 | 25 083 | 340 822 | 38 663 | 3.7% | 33.1% |
Egyptian for Takaful Insurance | 424 164 | 23 448 | 302 350 | 34 299 | 3.4% | 40.3% |
AIG | 343 501 | 18 989 | 262 780 | 29 810 | 2.8% | 30.7% |
Mohandes Insurance Company | 319 897 | 17 684 | 240 434 | 27 275 | 2.6% | 33.0% |
Axa Insurance | 294 133 | 16 260 | 86 553 | 9 819 | 2.4% | 239.8% |
Delta Insurance Company | 262 088 | 14 488 | 221 893 | 25 172 | 2.1% | 18.1% |
Egyptian Saudi Insurance House | 211 296 | 11 680 | 205 507 | 23 313 | 1.7% | 2.8% |
Wethaq Takaful Insurance | 176 264 | 9 744 | 115 486 | 13 101 | 1.4% | 52.6% |
Iskan Insurance Company | 151 598 | 8 380 | 117 207 | 13 296 | 1.2% | 29.3% |
Tokio Marine General Takaful Egypt | 138 544 | 7 659 | 90 117 | 10 223 | 1.1% | 53.7% |
Arope | 127 461 | 7 046 | 94 766 | 10 750 | 1% | 34.5% |
Co-operative Insurance Society Egypt | 115 636 | 6 392 | 86 408 | 9 801 | 0.9% | 33.8% |
United Insurance | 67 538 | 3 733 | 37 098 | 4 208 | 0.6% | 82.1% |
Chubb Insurance | 64 395 | 3 560 | 46 166 | 5 237 | 0.5% | 39.5% |
Export Credit Guarantee Company | 5 463 | 302 | 3 151 | 357 | 0.1% | 73.4% |
Total private sector | 6 668 431 | 368 631 | 4 655 775 | 528 151 | 54.1% | 43.2% |
Grand total | 12 328 621 | 681 526 | 9 009 391 | 1 022 025 | 100% | 36.8% |
Egyptian insurance market: Turnover per life insurance company (2016-2017)
Figures in thousands2017 | 2016 | Shares | Evolution | |||
---|---|---|---|---|---|---|
In EGP (1) | In USD | In EGP (1) | In USD | 2017 | 2016-2017 (2) | |
Public sector | ||||||
Misr Life Insurance Company | 3 306 278 | 182 771 | 2 803 972 | 318 083 | 32.5% | 17.9% |
Total public sector | 3 306 278 | 182 771 | 2 803 972 | 318 083 | 32.5% | 17.9% |
Private sector | ||||||
MetLife Egypt | 2 173 927 | 120 175 | 1 404 145 | 159 287 | 21.4% | 54.8% |
Allianz Life | 1 538 788 | 85 064 | 1 362 529 | 154 565 | 15.1% | 12.9% |
Commercial International Life Insurance * | 1 297 792 | 71 742 | 1 094 706 | 124 183 | 12.8% | 18.5% |
Suez Canal Life Insurance | 551 089 | 30 464 | 431 688 | 48 971 | 5.4% | 27.6% |
QNB Alahli Life Insurance | 387 313 | 21 411 | 318 414 | 36 121 | 3.8% | 21.6% |
Egyptian Life Takaful Company | 349 209 | 19 304 | 391 423 | 44 403 | 3.4% | -10.8% |
Chubb Life Insurance Egypt | 162 483 | 8 982 | 138 791 | 15 744 | 1.6% | 17.1% |
Delta Life Assurance | 124 734 | 6 895 | 170 223 | 19 310 | 1.2% | -26.7% |
Mohandes Life Insurance | 84 417 | 4 667 | 74 759 | 8 481 | 0.8% | 12.9% |
Libano-Suisse Takaful Egypt | 80 571 | 4 454 | 53 932 | 6 118 | 0.8% | 49.4% |
Misr Emirates Takaful Life Insurance | 47 105 | 2 604 | 8 225 | 933 | 0.5% | 472.7% |
Arope Life Insurance Egypt | 43 079 | 2 381 | 30 379 | 3 446 | 0.4% | 41.8% |
Tokio Marine Egypt Family Takaful | 31 278 | 1 729 | 41 664 | 4 726 | 0.3% | -24.9% |
Total private sector | 6 871 785 | 379 872 | 5 520 878 | 626 288 | 67.5% | 24.5% |
Grand total | 10 178 063 | 562 643 | 8 324 850 | 944 371 | 100% | 22.26% |
* The company was acquired in December 2015 by Axa Life Insurance - Egypt
Egyptian insurance market: Turnover per class of business (2016-2017)
Figures in thousands2017 | 2016 | 2017 shares | |||
---|---|---|---|---|---|
In EGP (1) | In USD | In EGP (1) | In USD | ||
Motor | 3 725 338 | 205 936 | 2 954 622 | 335 172 | 16.5% |
Health | 2 072 596 | 114 573 | 1 388 453 | 157 506 | 9.2% |
Fire | 1 933 448 | 106 881 | 1 447 700 | 164 227 | 8.6% |
Accident | 1 263 305 | 69 836 | 890 430 | 101 010 | 5.6% |
Marine | 1 206 712 | 66 707 | 801 948 | 90 973 | 5.4% |
Energy | 1 093 733 | 60 462 | 655 510 | 74 361 | 4.9% |
Engineering | 1 033 489 | 57 131 | 870 728 | 98 776 | 4.6% |
Total non life | 12 328 621 | 681 526 | 9 009 391 | 1 022 025 | 54.8% |
Life | 10 178 063 | 562 643 | 8 324 850 | 944 371 | 45.2% |
Grand total | 22 506 684 | 1 244 169 | 17 334 2431 | 1 966 396 | 100% |
* The fiscal year runs from July.1 of the year Y-1 to June. 30 of the year Y
(1) Egyptian Pound
(2) Growth rate in local currency
Egyptian insurance market: Turnover’s breakdown per class of business in 2017
Exchange rate USD/EGP as at 31/12 | 2013 | 2014 | 2015 | 2016 | 2017 |
0.14332 | 0.14023 | 0.13076 | 0.11344 | 0.05528 |
0
Your rating: None
Thu, 13/09/2018 - 12:34
The online magazine
Live coverage
14:09
12:14
11:54
10:05
03/28
Latest news