Non-Life Insurance in Egypt, Key Trends and Opportunities to 2017

Date: 2015-09

“The environment of uncertainty in Egypt since the beginning of the political upheavals in 2011 has affected economic growth. GDP growth fell from 5.1% in 2010 to 1.8% in 2011 and 2.2% in 2012. However, the insurance industry was largely unaffected and registered a compound annual growth rate (CAGR) of 9.2% during the review period (2008โ€“2012). The non-life segment accounted for 47.1% of the industryโ€™s total gross written premium, valuing EGP5.0 billion (US$0.8 billion) in 2012. The non-life segment led the industryโ€™s overall growth, supported by high demand for property and causality products during the political violence. Motor insurance accounted 40.3% of the Egyptian non-life insurance written premium in 2012, followed by property insurance with 30.5%. The non-life segment is competitive with 19 insurance companies authorized to operate under the supervision of the Egyptian Financial Supervisory Authority (EFSA).

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