Insurance companies in Egypt: 2022 ranking per GWP

Magazine Issue:

Atlas Magazine, 20 years of publication [3]

Magazine date:

Apr 2023

Life insurance companies in Egypt

In thousands

Life companies	2022 turnover		2021 turnover		2021-2022 evolution ⁽¹⁾	2022 shares
Life companies	EGP	USD	EGP	USD	2021-2022 evolution ⁽¹⁾	2022 shares
Misr Life Insurance Company	9 099 934	483 297	7 652 574	487 239	18.91%	31.60%
Allianz Life Egypt	6 118 957	324 978	5 042 720	321 070	21.34%	21.25%
Metlife Egypt	4 992 729	265 164	4 085 402	260 118	22.21%	17.34%
AXA Life Egypt	3 966 275	210 649	3 308 188	210 632	19.89%	13.77%
GIG Life Egypt ⁽²⁾	1 161 084	61 665	923 045	58 770	25.79%	4.03%
QNB Alahli Life Insurance	1 113 327	59 129	933 680	59 448	19.24%	3.87%
Suez Canal Life Insurance	576 236	30 604	673 136	42 859	-14.40%	2.00%
Libano-Suisse Takaful	334 205	17 750	261 861	16 673	27.63%	1.16%
Sarwa Life	326 587	17 345	106 508	6 781	206.63%	1.13%
Delta Life Assurance	324 868	17 254	272 968	17 380	19.01%	1.13%
Chubb Life Egypt	306 642	16 286	267 133	17 008	14.79%	1.06%
Mohandes Life Insurance Company	140 303	7 451	103 312	6 578	35.81%	0.49%
Misr Emirates Takaful Life Insurance	129 705	6 889	207 151	13 189	-37.39%	0.45%
Arope Life Insurance	105 563	5 606	88 483	5 634	19.30%	0.37%
KAF Life Takaful Insurance ⁽³⁾	95 373	5 065	49 410	3 146	93.02%	0.33%
Wafa Life Insurance	7 289	387	-	-	-	0.02%
Total life ⁽⁴⁾	28 799 077	1 529 519	23 975 571	1 526 525	20.12%	100%

⁽¹⁾ Growth rate in local currency
⁽²⁾ Ex. Egyptian Life Takaful
⁽³⁾Ex. Tokyo Marine Family Takaful
⁽⁴⁾ Excluding acceptances
Financial year at the end of June

Non-life insurance companies in Egypt

In thousands

Non-life companies	2022 turnover		2021 turnover		2021-2022 evolution⁽¹⁾	2022 shares
Non-life companies	EGP	USD	EGP	USD	2021-2022 evolution⁽¹⁾	2022 shares
Misr Insurance	10 387 566	551 684	9 590 554	610 631	8.31%	38.09%
GIG Egypt	2 002 890	106 373	1 463 391	93 174	36.87%	7.34%
Orient Takaful Insurance Company	1 866 164	99 112	1 283 501	81 720	45.40%	6.84%
Allianz Insurance Egypt	1 848 312	98 164	1 237 482	78 790	49.36%	6.78%
Bupa Egypt	1 346 059	71 489	1 126 780	71 742	19.46%	4.94%
Suez Canal Insurance	1 322 940	70 261	1 114 279	70 946	18.73%	4.85%
AXA Insurance	1 133 607	60 206	1 592 756	101 411	-28.83%	4.16%
Egyptian Takaful Insurance	1 071 762	56 921	974 526	62 048	9.98%	3.93%
Royal Insurance	1 064 754	56 549	801 402	51 025	32.86%	3.90%
Delta Insurance	868 667	46 135	736 954	46 922	17.87%	3.19%
Wethaq Takaful Insurance	718 527	38 161	601 330	38 287	19.49%	2.63%
Mohandes Insurance Company	718 351	38 152	545 164	34 711	31.77%	2.63%
Egyptian Saudi Insurance House	563 325	29 918	543 340	34 594	3.68%	2.07%
Sarwa Insurance	440 587	23 400	300 308	19 121	46.71%	1.62%
Co. Operative Insurance Society	333 901	17 733	275 059	17 513	21.39%	1.22%
Egyptian Takaful Insurance	305 007	16 199	219 620	13 983	38.88%	1.12%
Arope Insurance	269 024	14 288	179 125	11 405	50.19%	0.99%
Iskan Insurance	262 452	13 939	231 521	14 741	13.36%	0.96%
Tokio Marine Egypt General Takaful	236 684	12 570	220 498	14 039	7.34%	0.87%
Mada Insurance	180 001	9 560	70 240	4 472	156.27%	0.66%
AIG Insurance	147 430	7 830	203 001	12 925	-27.37%	0.54%
Al Wataniya Insurance	114 623	6 088	25 945	1 652	341.79%	0.42%
Chubb Insurance	68 207	3 622	68 968	4 391	-1.10%	0.25%
Total non-life	27 270 840	1 448 354	23 405 744	1 490 243	16.51%	100%

⁽¹⁾ Growth rate in local currency
Financial year at the end of June
Source : Financial Regulatory Authority. Egypt
Exchange rate as at 30/06/2022 : 1 EGP = 0.05311 USD : as at 30/06/2021 : 1 EGP = 0.06367 USD

Read also | Egyptian insurance market [4]