The Egyptian insurance market

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Photo credit: US Gov / CIA World Factbook

Characteristics of the insurance market

  • Regulatory body: Egyptian Insurance Supervisory Authority (EISA)
  • Written premium in 2001/2002 : 370.7 millions USD
  • 3rd insurance market in Africa behind South Africa and Morocco.
  • 4th Arabic market behind Saudi Arabia, Morocco, and United Arab Emirates.
  • Insurance density: 5 USD per capita
  • Insurance penetration ratio : 0.41%
  • Mandatory insurance: Motor liability, decennial liability and engineering.
  • Mandatory reinsurance cessions to the Egyptian Reinsurance Company

Market structure 2001/02

  • Insurance companies: 16 (3 of which specialized in Life insurance)
  • Reinsurance companies: 1

Identity

  • Area: 995,450 Km²
  • Population (2002): 70,000,000 inhabitant
  • GDP (2002): 90 billion USD
  • GDP per capita : 1 285 USD
  • GDP growth rate (2002): +1.7%
  • Inflation rate (2002): 4.3%
  • Main activity sectors : textile, food products, tourism, chemical products, hydrocarbons, cement, metals

Main cities

(in millions of inhabitants)
  • Cairo: 12
  • Alexandria: 3.5
  • Tanta: 3.5
  • Shobra: 0.8
  • Port Said: 0.5
  • Suez: 0.5
 

The market figures (2001/02)

Life turnover
 
Non-Life turnover
in thousands USD in thousands USD
CompaniesWritten premiumMarket share
Al Chark Insurance
43 23637.0%
Misr Insurance
36 58531.3%
Pharaonic American Life
11 0789.5%
National Insurance
9 6298.2%
Mohandes Insurance
6 4955.7%
Delta Insurance
3 8993.3%
Commercial International Life
3 8553.2%
Suez Canal Insurance
2 1621.8%
Total
116 940 100%
CompaniesWritten premiumMarket share
Misr Insurance
103 13940.7%
Al Chark Insurance
46 31418.3%
National Insurance
31 55412.4%
Suez Canal Insurance
23 3459.2%
Mohandes Insurance
11 7944.6%
Pharaonic Insurance
10 9114.3%
Delta Insurance
10 1094.0%
Arab International
8 5743.4%
Arab Misr Insurance Group
6 3562.5%
Cooperative Ins. Society
1 4950.6%
Export Credit Garantee
1300.1%
Total
253 721 100%
Exchange rate: 1USD = 6.1612 EGP
 

Development of the market turnover

in thousands USD

Non-life turnover by branch and by insurer

in thousands USD
CompaniesTotalFireMarineAviationAccidentHealthEngineeringEnergyMotor
Misr Insurance
103 13917 1348 96328 8067 8642 1316 3479 24022 653
Al Chark Insurance
46 3145 6624 9255294 9831 3922 2706 64219 911
National Insurance
31 5545 4373 62306 5351 0941 625013 239
Suez Canal Insurance
23 3451 9604 05805 8372646 19705 030
Mohandes Insurance
11 7943 8381 37401 97819071003 704
Pharaonic Insurance
10 9112 0661 4581801 98601 23303 989
Delta Insurance
10 1092 08390101 57259147704 485
Arab International
8 5742 8681 42604 2800000
Arab Misr Ins. Group
6 3561 4441 08001 10924215302 327
Cooperative Ins. Society
1 495142609403350073
Export Credit Guarantee
1300001300000
Total
253 721 42 635 27 815 29 515 37 214 6 239 19 010 15 882 75 411

Turnover apportionment by branch


Source: Egyptian Insurance Supervisory Authority
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Thu, 09/05/2013 - 17:27
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