Country Profile

Steady growth despite tough times

The Egyptian insurance market is one of the few regional markets which have preserved double-digit growth despite shaky political and economic conditions over the past three years. Yet, the market remains full of potential with some players making the right move.

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Life faces the biggest challenge

Tough socioeconomic conditions in Egypt are affecting the insurance sector in general, but this is especially so for the life branch, with the looming prospect of austerity measures.

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Fulfilling an integral role

Besides setting the right tone for the sector, the Insurance Federation of Egypt is paving the way for vital regulatory amendments to be introduced to help insurers better utilise their resources and overcome challenges, says Mr Abd El-Raouf Kotb, Chairman.

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Diversifying in the next growth phase

Misr Insurance Holding Co is establishing reinsurance and takaful subsidiaries within the next year, says Dr Adel Moneer Rabeh, Vice Chairman for Operations and Insurance.

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