The results of a survey, in which about 100 insurance experts in the Egyptian market identified prospects, opportunities and challenges in the insurance industry in 2026, show that they predict moderate to strong premium growth for the year.
The findings of the survey, conducted by the publication Amwal Alghad, indicated that their forecasts primarily range between 10% and 30%, with a smaller segment of respondents predicting growth exceeding 30%. This collective optimism signals a drive toward market expansion, even amidst prevailing economic headwinds.
When asked to name the most prominent challenges that might hinder industry growth, many of them point to inflation and high operating costs, as well as intense competition and weak insurance awareness among customers. These results also confirm the importance of focusing on marketing strategies and innovative products, along with awareness campaigns to boost demand for various insurance products.
Regarding growth opportunities, the respondents indicate that medical insurance, cyber insurance and comprehensive auto insurance are the most prominent branches expected to flourish in 2026, reflecting the market's shift towards technology-driven protection and essential lifestyle coverage, particularly as the need to mitigate cyber risks intensifies.
Digital transformation
The survey also confirms that digital transformation has become a cornerstone of customer behaviour, as most experts predict that customers would opt for digital channels, requiring insurance companies to invest in effective digital platforms to facilitate underwriting, electronic payments and improve the overall customer experience.
A majority of 83% of respondents confirm that their companies are moving towards increasing their investments in digitisation, while 17% of them indicated that this is currently not among their companies’ priorities.
In summary, the survey highlights that the Egyptian insurance market has promising growth opportunities in 2026, with continued demand for medical and cyber insurance, and the importance of digitalisation as a key factor for achieving efficiency and enhancing customer experience, while competition and economic challenges remain the most prominent obstacles that companies must manage.
Expectations of insurance experts for the industry in 2026
|
Expectations
|
Proportion of respondents
|
|
Sector growth
|
|
Growth of 10-20%
|
38%
|
|
Growth of 20-30%
|
34%
|
|
Growth higher than 30%
|
16%
|
|
Growth lower than 10%
|
12%
|
|
Growth by insurance branch
|
|
Medical – primary driver of growth
|
39%
|
|
Cyber – significant emerging market
|
24%
|
|
Comprehensive motor – traditional steady growth
|
21%
|
|
Others
|
16%
|
|
Challenges
|
|
Inflation – the most significant concern
|
35%
|
|
Intense competition – market saturation and pricing wars
|
30%
|
|
Weak insurance awareness
|
25%
|
|
Various other operational or regulatory challenges
|
10%
|
|
Impact of economic environment on insurance sector
|
|
Positive sentiment – economic climate will be favourable
|
63%
|
|
Neutral – no significant impact expected
|
29%
|
|
Negative – economic headwinds
|
8%
|