The Egyptian insurance market

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Crédit photo: US Gov / CIA World Factbook

Insurance market features

  • Regulatory authority: Egypt Insurance Supervisory Authority
  • Life and non life Premiums (2009): 1 434 million USD
  • Insurance density (2009): 17.28 USD
  • Penetration rate (2009): 0.76%

Market structure in 2009

Actors
Number
Insurance companies
22
Non life companies
17
Life companies
5
Reinsurance company
1

Identity

  • Area: 1 001 450 Km2
  • Population (2009): 82 999 393 inhabitants
  • GDP (2009): 188.4 billion USD
  • GDP per capita (2009): 2 270 USD
  • GDP growth rate (2009): 4.7%
  • Inflation rate (2009): 16.2%
  • Main economic activities: tourism, textile industry, agriculture (cotton, rice), gas, oil

Major cities

(in number of inhabitants)
  • Cairo (capital): 16 244 674
  • Alexandria: 4 541 100
  • Suez: 633 514
  • Al Mansourah: 611 247
  • Port Said: 588 935
 

Turnover’s evolution: 2004-2009

in thousands USD
 200420052006200720082009
Non life
406 718485 813494 481596 748763 755871 479
Life
220 914267 170315 285439 868600 399562 811
Total
627 632 752 983 809 766 1 036 616 1 364 154 1 434 290

Evolution of the loss experience in life and non life insurance: 2004-2009

in thousands USD
 200420052006200720082009
Non life
171 713285 442401 899410 899455 144524 444
Life
101 877133 977204 710204 710317 088372 075
Total
273 590 419 419 606 609 668 517 772 232 896 519
in thousands USDin thousands USD

Turnover per company: 2008-2009

in thousands USD
 Premiums
2009		Market sharesPremiums
2008		Market shares2008/09
growth
Non life companies
Public sector
Misr Insurance
462 70832.3%414 16230.4%11.5%
Al Ahlia Insurance Co.
53 8433.8%48 3743.5%11.1%
Public sector total
516 551 36.1% 462 536 33.9% 11.5%
Private sector
Suez Canal Insurance Company
58 5004.1%44 1953.2%32.2%
AIG
42 8613.0%36 9272.7%15.9%
Arab Misr Insurance Group
39 4502.8%31 0342.3%26.9%
Delta Insurance Company
37 0082.6%28 9532.1%27.6%
Allianz Insurance Company
35 5552.5%29 8992.2%18.7%
Cooperative Insurance Society
34 8922.4%62 8664.6%-44.6%
Mohandes Insurance Company
29 8982.1%23 0431.7%29.5%
Bupa Egypt
26 6751.9%23 1601.7%15.0%
Royal Insurance
17 0111.2%11 2830.8%50.5%
Wethaq Takaful Insurance
12 2910.9%-0.0%-
Egyptian Saudi Insurance House
10 4140.7%6 1120.4%70.1%
Egyptian for Takaful Insurance
6 2030.4%---
ACE Insurance
3 2370.2%3 3290.2%-2.9%
Export Credit Guarantee Company
8740.1%4180.03%109.1%
AROPE
590.0%---
Private sector total
354 928 24.7% 301 219 22.1% 17.6%
Non life total
871 479 60.8% 763 755 56.0% 13.9%
Life companies
Life
562 811
39.2%
600 399
44.0%
-6.4%
Grand total
1 434 290100.0%1 364 154100.0%5.0%

Turnover per class of business: 2005-2009

in thousands USD
 20052006200720082009Market
shares
Non life
Fire
60 19866 53376 95181 47992 5826.4%
Marine
49 89053 72265 67880 84685 9786%
Aviation
94 25346 07936 33931 00030 9522.2%
Motor
101 210114 370146 138230 106287 16720%
Engineering
48 32151 85277 07090 091101 6487.1%
Oil
65 26677 47381 78497 255109 3097.6%
Accident
54 81760 68968 79980 60786 8886.1%
Health
11 85823 76343 98972 37276 9565.4%
Non life total
485 813 494 481 596 748 763 755 871 479 60.8%
Life
Life
267 170 315 285 439 868 600 399 562 811 39.2%
Grand total
752 983809 7661 036 6161 364 1541 434 290100%

Breakdown per class of business in 2009

Exchange rate
USD/EGP as at 31/12
2004
2005
2006
2007
2008
2009
6.05880
5.69570
5.66958
5.48613
5.45936
5.45080
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Mon, 20/05/2013 - 16:58
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