Egyptian insurance market: 2016-2017

Egypt

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 USD
 20132014201520162017
Non life
996 5791 058 2751 061 5071 022 025681 526
Life
754 911 863 054959 691 944 371562 643
Total
1 751 490 1 921 329 2 021 198 1 966 396 1 244 169

Ranking of non-life insurance companies in Egypt (2016-2017)

Figures in thousands
 201720162017
shares
2016-2017
evolution (2)
 In EGP (1)In USDIn EGP (1)In USD
Public sector
Misr Insurance
5 660 190312 8954 353 616493 87445.9%30%
Total public sector
5 660 190 312 895 4 353 616 493 874 45.9% 30%
Private sector
Bupa Egypt
858 64747 466558 50263 3557%53.7%
Suez Canal Insurance
Company
796 76944 045615 34569 8056.5%29.5%
Arab Misr Insurance Group gig
752 29241 587536 70560 8846.1%40.2%
Orient Takaful Insurance Egypt
562 91731 118350 08539 7144.6%60.8%
Allianz Insurance Company
542 08829 967344 40039 0694.4%57.4%
Royal Insurance
453 74025 083340 82238 6633.7%33.1%
Egyptian for Takaful
Insurance
424 16423 448302 35034 2993.4%40.3%
AIG
343 50118 989262 78029 8102.8%30.7%
Mohandes Insurance
Company
319 89717 684  240 43427 2752.6%33.0%
Axa Insurance
294 13316 26086 5539 8192.4%239.8%
Delta Insurance Company
262 08814 488 221 89325 1722.1%18.1%
Egyptian Saudi Insurance House
211 29611 680205 50723 3131.7%2.8%
Wethaq Takaful Insurance
176 2649 744115 48613 1011.4%52.6%
Iskan Insurance Company
151 5988 380117 20713 2961.2%29.3%
Tokio Marine General
Takaful Egypt
138 5447 65990 11710 2231.1%53.7%
Arope
127 4617 04694 76610 7501%34.5%
Co-operative Insurance
Society Egypt
115 6366 39286 4089 8010.9%33.8%
United Insurance
67 5383 73337 098 4 2080.6%82.1%
Chubb Insurance
64 3953 56046 1665 2370.5%39.5%
Export Credit Guarantee
Company
 5 4633023 1513570.1%73.4%
Total private sector
6 668 431 368 631 4 655 775 528 151 54.1% 43.2%
Grand total
12 328 621681 5269 009 3911 022 025100%36.8%

Egyptian insurance market: Turnover per life insurance company (2016-2017)

Figures in thousands
 20172016SharesEvolution
 In EGP (1)In USDIn EGP (1)In USD20172016-2017 (2)
Public sector
Misr Life Insurance Company
3 306 278182 7712 803 972318 08332.5%17.9%
Total public sector
3 306 278182 7712 803 972318 08332.5%17.9%
Private sector
MetLife Egypt
2 173 927120 1751 404 145159 28721.4%54.8%
Allianz Life
1 538 78885 0641 362 529154 56515.1%12.9%
Commercial International Life Insurance *
1 297 79271 7421 094 706124 18312.8%18.5%
Suez Canal Life Insurance
551 08930 464431 68848 9715.4%27.6%
QNB Alahli Life Insurance
387 31321 411318 41436 1213.8%21.6%
Egyptian Life Takaful Company
349 20919 304391 42344 4033.4%-10.8%
Chubb Life Insurance Egypt
162 4838 982138 79115 7441.6%17.1%
Delta Life Assurance
124 7346 895170 22319 3101.2%-26.7%
Mohandes Life
Insurance
84 4174 66774 7598 4810.8%12.9%
Libano-Suisse Takaful Egypt
80 5714 45453 9326 1180.8%49.4%
Misr Emirates Takaful Life
Insurance
47 1052 6048 2259330.5%472.7%
Arope Life Insurance Egypt
43 0792 38130 3793 4460.4%41.8%
Tokio Marine Egypt Family
Takaful
31 2781 72941 6644 7260.3%-24.9%
Total private sector
6 871 785 379 872 5 520 878 626 288 67.5% 24.5%
Grand total
10 178 063562 6438 324 850944 371100%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 thousands
 201720162017
shares
 In EGP (1)In USDIn EGP (1)In USD
Motor
3 725 338205 9362 954 622335 17216.5%
Health
2 072 596114 5731 388 453157 5069.2%
Fire
1 933 448106 8811 447 700164 2278.6%
Accident
1 263 30569 836890 430101 0105.6%
Marine
1 206 71266 707801 94890 9735.4%
Energy
1 093 73360 462655 51074 3614.9%
Engineering
1 033 48957 131870 72898 7764.6%
Total non life
12 328 621681 5269 009 3911 022 02554.8%
Life
10 178 063562 6438 324 850944 37145.2%
Grand total
22 506 6841 244 16917 334 24311 966 396100%

* 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

Egyptian insurance market 2017
Exchange rate
USD/EGP as at 31/12
2013
201420152016
2017
0.14332
0.140230.130760.11344
0.05528
0
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