Non-Life Insurance in Egypt, Key Trends and Opportunities to 2018

Date: 2015-09

Amid the political turbulence and unceasing violent protests, Egyptโ€™s economic growth has suffered a telling blow, with GDP growth declining from 5.1% in 2010 to 2.1% in 2013. The insurance industry remained largely unscathed, however, registering a compound annual growth rate (CAGR) of 11.8% during the review period (2009โ€“2013). The non-life segment accounted for 47.7% of the industryโ€™s total gross written premium in 2013. The non-life segment led the industryโ€™s overall growth, supported by high demand for property and casualty products during the political violence. Motor insurance accounted for 37.6% of the Egyptian non-life insurance written premium in 2013, followed by property insurance with 33.0%. The Egyptian non-life insurance segment is highly concentrated.

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