Recent Study: Non-Life Insurance in Egypt, Key Trends and Opportunities to 2017

From: Fast Market Research, Inc.
Published: Fri Feb 28 2014

The environment of uncertainty in Egypt since the beginning of the political upheavals in 2011 has affected economic growth. GDP growth fell from 5.1% in 2010 to 1.8% in 2011 and 2.2% in 2012. However, the insurance industry was largely unaffected and registered a compound annual growth rate (CAGR) of 9.2% during the review period (2008-2012). The non-life segment accounted for 47.1% of the industry's total gross written premium, valuing EGP5.0 billion (US$0.8 billion) in 2012. The non-life segment led the industry's overall growth, supported by high demand for property and causality products during the political violence. Motor insurance accounted 40.3% of the Egyptian non-life insurance written premium in 2012, followed by property insurance with 30.5%. The non-life segment is competitive with 19 insurance companies authorized to operate under the supervision of the Egyptian Financial Supervisory Authority (EFSA).

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Report Highlights

* The non-life segment accounted for 47.1% of the total gross written premium of the Egyptian insurance industry in 2012.
* Increased demand for motor and property insurance during the political instability, the introduction of new products covering risks related to political violence, and increased premiums contributed to the growth.
* Motor insurance accounted for the largest proportion of the Egyptian non-life insurance segment, in terms of gross written premium.
* The non-life segment is currently facing challenges from the gloomy business environment and a fall in foreign direct investment.
* The non-life insurance segment in Egypt is mainly dependent on traditional modes of distribution such as direct marketing, agencies and brokers.
* The Egyptian non-life insurance segment is highly concentrated, with the 10 leading companies accounting for 93.9% of the total non-life segment in terms of gross written premium.

Report Scope

This report provides a comprehensive analysis of the non-life insurance segment in Egypt:

* It provides historical values for Egypt's non-life insurance segment for the report's 2008-2012 review period and forecast figures for the 2012-2017 forecast period.
* It offers a detailed analysis of the key categories in Egypt's non-life insurance segment, along with market forecasts until 2017.
* It covers an exhaustive list of parameters, including written premium, incurred loss, loss ratio, commissions and expenses, combined ratio, frauds and crimes, total assets, total investment income and retentions.
* It analyses the various distribution channels for non-life insurance products in Egypt.
* Using Porter's industry-standard "Five Forces" analysis, it details the competitive landscape in Egypt for the non-life insurance segment.
* It provides a detailed analysis of the reinsurance segment in Egypt and its growth prospects.

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