News Middle East09 Mar 2021

Egypt:Privately-held insurers command nearly 70% of total premiums

| 09 Mar 2021

The 36 insurance companies in the private sector in Egypt commanded a share of 68.8% of total premiums collected in 2020, according to data from the Financial Regulatory Authority (FRA).

In comparison, government-owned insurers — Misr Insurance and Misr Life Insurance— obtained a market stake of 31.2%. They retained their lead as the biggest insurers in the country in terms of premium.

The Egyptian insurance market chalked up total premiums of around EGP39m in 2020, compared to EGP35bn in 2019, representing growth of 11.4%.

In terms of premiums, the five biggest insurers in 2020 in the Egyptian insurance market were:

Insurer

2020 Market Share

Misr Insurance

17.67%

Misr Life Insurance

13.49%

Allianz Life Insurance - Egypt

11.98%

Metlife Life Insurance

8.09%

AXA Life Insurance - Egypt

6.99%

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