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Life business is the bright spot for Egypt

Egypt’s insurance sector achieved top-line growth of 13.1% to reach EGP27.8bn ($1.4bn) during the January-June period of 2022, led by robust performance of the life and takaful segments. In particular, life not only outpaced that of non-life in terms of GWP growth but also expanded the share of business in total premiums to 60.9% during the period.

Regulating sustainability, InsurTech, takaful and price cutting

All eyes are likely to be on the activity of Egypt’s insurance regulator as life insurance business surges ahead of P&C insurance in the first half of the year. We take a look at the most significant regulatory developments to touch the insurance sector in the last year and the progress of the new unified insurance law.

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Outstanding growth in life in Egypt

Life and medical insurance in Egypt have been growing steadily despite the challenges that hit the country in the past period and will remain growth drivers in the coming years.

Steady growth of non-life despite challenges

Egypt’s non-life market continues to grow steadily despite a challenging economic environment. Insurers are also working on improving insurance coverage for the country’s agricultural sector. Allianz’s Mr Mohamed Mahran and the Insurance Federation of Egypt’s Mr Alaa El Zoheiry spoke to Middle East Insurance Review about the industry’s performance.

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Where has Egypt's reinsurance capacity gone?

Despite its strong growth in recent times, Egypt’s insurance market still suffers from a lack of reinsurance capacity. We spoke to Chedid Re’s Mr Joe Asmar to find out what could be done to improve the situation.

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Technology an enabler for Egyptian insurers

Post pandemic, Egyptian insurance is on the way to further but systematic digitalisation. Technology will be an important enabler in this effort and InsurTechs are expected to be a major player. Middle East Insurance Review spoke with Kaf Insurance’s Mr Sohail Ali about the evolving scenario.

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Magazine

Sep 2022

Magazine Table of Contents

Market Profile

Egypt

Life business is the bright spot for Egypt

Regulating sustainability, InsurTech, takaful and price cutting

Outstanding growth in life in Egypt

Steady growth of non-life despite challenges

Where has Egypt's reinsurance capacity gone?

Technology an enabler for Egyptian insurers

Follow Middle East Insurance Review

Magazine

Sep 2022

Contents

Magazine Table of Contents

Market Profile

Egypt

Life business is the bright spot for Egypt

Regulating sustainability, InsurTech, takaful and price cutting

Outstanding growth in life in Egypt

Steady growth of non-life despite challenges

Where has Egypt's reinsurance capacity gone?

Technology an enabler for Egyptian insurers

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