Just Published: "Egypt Insurance Report Q2 2016"

Egypt' s insurance market offers significant growth potential. Average household income rates are improving which will increase the affordability of a range of life and non-life products. Demand for key lines, such as motor and health insurance, remains high and we are seeing a broadening in the range of products available in the market. Key to growth will be the expansion of takaful and microinsurance products which will enable insurers to access to the large first time user market. Barriers to growth remain, however, including a fragmented marketplace and uncertain regulatory environment.

Key Updates And Forecasts

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Takaful insurance is growing rapidly in Egypt. The Secretary-General of Insurance Federation of Egypt, Abdel-Raouf Kotb, recently reported that takaful insurance now accounts for 11% of the country's insurance market.

Work continues on drafts of a new health insurance bill which is expected to be presented by government to parliament. The new health insurance law will include the introduction of health insurance payments and will expand coverage, though we note it has come under significant criticism from medical practitioners in the country.

Demand for property and motor insurance will be some of the key drivers of growth in the Egyptian non-life sector where we expect premiums to grow by an annual average of 11.2% (in local currency terms) between 2016 and 2020.

Substantial growth is also expected in the slightly smaller life insurance segment, where we expect premiums to grow by an annual average of just under 13.0% over the forecast period, increasing from EGP8.2bn in 2016 to EGP13.0bn in 2020.

The Egypt Insurance Report has been researched at source and features BMI Research's independent assessment and forecasts for the insurance sector. It examines industry developments, key growth drivers and risk management projections, including the macroeconomic situation, government policy, regulatory environment and the level of development and potential for growth, broken down by line. Leading insurers are profiled, covering premiums, products and services and competitive positioning.

BMI's Egypt Insurance Report provides professionals, consultancies, government departments, regulatory bodies and researchers with independent forecasts and regional competitive intelligence on the Egyptian insurance industry.

Key Benefits
Benchmark BMI's independent insurance industry forecasts for Egypt to test other views - a key input for successful budgeting and strategic business planning in Egypt's insurance market.
Target business opportunities and risks in Egypt through our reviews of latest industry trends, regulatory changes and major deals, investments and macroeconomic developments.
Exploit latest competitive intelligence on your competitors, partners and clients via our Company Profiles (inc. SWOTs, KPIs and latest activity).

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