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Life Insurance in Egypt, Key Trends and Opportunities to 2020

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Date: 31-Mar-2017
No. of pages: 100
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Synopsis

Timetric's 'Life Insurance in Egypt Key Trends and Opportunities to 2020' report provides a detailed outlook by product category for the Egyptian life insurance segment, and a comparison of the Egyptian insurance industry with its regional counterparts.

It provides key performance indicators such as written premium, incurred loss, loss ratio, commissions and expenses, total assets, total investment income and retentions during the review period (2011-2015) and forecast period (2015-2020).

The report also analyzes distribution channels operating in the segment, gives a comprehensive overview of the Egyptian economy and demographics, and provides detailed information on the competitive landscape in the country.

The report brings together Timetric's research, modeling and analysis expertise, giving insurers access to information on segment dynamics and competitive advantages, and profiles of insurers operating in the country. The report also includes details of insurance regulations, and recent changes in the regulatory structure.

Summary

Timetric's 'Life Insurance in Egypt Key Trends and Opportunities to 2020' report provides in-depth market analysis, information and insights into the Egyptian life insurance segment, including:


  • An overview of the Egyptian life insurance segment

  • The Egyptian life insurance segment's growth prospects by category

  • A comprehensive overview of the Egyptian economy and demographics

  • A comparison of the Egyptian life insurance segment with its regional counterparts

  • The various distribution channels in the Egyptian life insurance segment

  • Details of the competitive landscape in the life insurance segment in Egypt

  • Details of regulatory policy applicable to the Egyptian insurance industry


Scope

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


  • It provides historical values for the Egyptian life insurance segment for the report's 2011-2015 review period, and projected figures for the 2015-2020 forecast period.

  • It offers a detailed analysis of the key categories in the Egyptian life insurance segment, and market forecasts to 2020.

  • It provides a comparison of the Egyptian life insurance segment with its regional counterparts

  • It analyzes the various distribution channels for life insurance products in Egypt.

  • It profiles the top life insurance companies in Egypt and outlines the key regulations affecting them.


Reasons To Buy


  • Make strategic business decisions using in-depth historic and forecast market data related to the Egyptian life insurance segment, and each category within it.

  • Understand the demand-side dynamics, key market trends and growth opportunities in the Egyptian life insurance segment.

  • Assess the competitive dynamics in the life insurance segment.

  • Identify growth opportunities and market dynamics in key product categories.

  • Gain insights into key regulations governing the Egyptian insurance industry, and their impact on companies and the industry's future.


Key Highlights


  • In February 2017, the Egyptian Financial Supervisory Authority (EFSA) announced plans to increase the minimum capital requirements for insurers from EGP60.0 million (US$7.8 million) to EGP200.0 million (US$26.0 million). A final decision is expected over the forecast period.

  • According to the EFSA, nine takaful insurance companies operate in the insurance industry as of September 2016.

  • In August 2016, the EFSA, in association with the Insurance Federation of Egypt (IFE), introduced rules for the issuance and distribution of insurance policies electronically.

  • In February 2014, the EFSA issued new guidelines that permit insurance companies to launch professionally managed investment funds.

Life Insurance in Egypt, Key Trends and Opportunities to 2020

Table of Contents

1 Key Facts and Highlights

2 Executive Summary

3 Economy and Demographics

4 Segment Outlook
4.1 Regional Comparison
4.2 Segment Indicators
4.2.1 Gross written premium and penetration
4.2.2 Policies sold
4.2.3 Claims
4.2.4 Sum assured
4.2.5 Assets and investments

5 Outlook by Sub-Segment
5.1 Individual Life Insurance
5.1.1 Premium
5.1.2 Policies sold
5.1.3 Penetration
5.2 Group Life Insurance
5.2.1 Premium
5.2.2 Policies sold
5.2.3 Penetration

6 Distribution Channel Outlook

7 Competitive Landscape
7.1 Company Profiles
7.1.1 Misr Life Insurance Company - company overview
7.1.2 Allianz Life Assurance Company - Egypt - company overview
7.1.3 MetLife Egypt - company overview
7.1.4 Commercial International Life Insurance Company - company overview
7.1.5 Egyptian Life Takaful Insurance Company - company overview

8 Governance, Risk and Compliance
8.1 Legislation Overview and Historical Evolution
8.2 Latest Changes in Regulation
8.3 Legislation and Market Practice by Type of Insurance
8.3.1 Life insurance
8.3.2 Property insurance
8.3.3 Motor insurance
8.3.4 Liability insurance
8.3.5 Marine, aviation and transit insurance
8.3.6 Personal accident and health insurance
8.4 Compulsory Insurance
8.4.1 Motor third-party liability insurance
8.4.2 Social Insurance System
8.4.3 Aviation third-party liability insurance
8.5 Supervision and Control
8.5.1 International Association of Insurance Supervisors
8.5.2 Egyptian Financial Supervisory Authority
8.5.3 Insurance Federation of Egypt
8.6 Non-Admitted Insurance Regulations
8.6.1 Overview
8.6.2 Intermediaries
8.6.3 Market practices
8.6.4 Fines and Penalties
8.7 Company Registration and Operations
8.7.1 Type of insurance organization
8.7.2 Establishing a local company
8.7.3 Foreign ownership
8.7.4 Types of license
8.7.5 Capital requirements
8.7.6 Solvency margin
8.7.7 Reserve requirements
8.7.8 Investment regulations
8.7.9 Statutory return requirements
8.7.10 Fee structure
8.8 Taxation
8.8.1 Insurance premium or policy taxation
8.8.2 Withholding taxes on premium paid overseas
8.8.3 Corporate tax
8.8.4 VAT
8.8.5 Captives
8.9 Legal System
8.9.1 Introduction
8.9.2 Access to court
8.9.3 Alternative dispute resolution

9 Databook
9.1 Policies and Premium
9.2 Claims and Expenses
9.3 Assets and Investments
9.4 Individual Life Insurance
9.5 Individual Life Insurance by Product
9.6 Group Life Insurance
9.7 Group Life Insurance by Product
9.8 Linked vs. Non-Linked Policies

10 Definitions and Methodology
10.1 Definitions
10.2 Methodology

11 About Timetric
11.1 Contact Timetric
11.2 About Timetric
11.3 Timetric's Services
11.4 Disclaimer

List of Tables

Table 1: Egyptian Life Insurance - Key Facts, 2015
Table 2: Egyptian Life Insurance - Segment Shares of the Top Insurers, 2015
Table 3: Egyptian Government Credit Ratings
Table 4: Egyptian Life Insurance - Gross Written Premium (EGP Billion and US$ Million), 2011-2015
Table 5: Egyptian Life Insurance - Penetration (%), 2011-2015
Table 6: Egyptian Life Insurance - Gross Written Premium (EGP Billion and US$ Billion), 2015-2020
Table 7: Egyptian Life Insurance - Penetration (%), 2015-2020
Table 8: Egyptian Life Insurance - Premium per Capita (EGP and US$), 2011-2015
Table 9: Egyptian Life Insurance - Premium per Capita (EGP and US$), 2015-2020
Table 10: Egyptian Life Insurance - Number of Policies Sold (Million), 2011-2015
Table 11: Egyptian Life Insurance - Number of Policies Sold (Million), 2015-2020
Table 12: Egyptian Life Insurance - Paid Claims (EGP Billion and US$ Million), 2011-2015
Table 13: Egyptian Life Insurance - Paid Claims (EGP Billion and US$ Million), 2015-2020
Table 14: Egyptian Life Insurance - Sum Assured (EGP Billion and US$ Billion), 2011-2015
Table 15: Egyptian Life Insurance - Sum Assured (EGP Billion and US$ Billion), 2015-2020
Table 16: Egyptian Life Insurance - Total Assets (EGP Billion and US$ Billion), 2011-2015
Table 17: Egyptian Life Insurance - Total Assets (EGP Billion and US$ Billion), 2015-2020
Table 18: Egyptian Life Insurance - Total Investment Income (EGP Billion and US$ Million), 2011-2015
Table 19: Egyptian Life Insurance - Total Investment Income (EGP Billion and US$ Million), 2015-2020
Table 20: Egyptian Life Insurance - Investment Portfolio (EGP Billion), 2011-2015
Table 21: Egyptian Life Insurance - Investment Portfolio (EGP Billion), 2015-2020
Table 22: Egyptian Life Insurance - Direct Written Premium by Sub-Segment (EGP Billion), 2011-2015
Table 23: Egyptian Life Insurance - Direct Written Premium by Sub-Segment (EGP Billion), 2015-2020
Table 24: Egyptian Individual Life Insurance - Direct Written Premium by Category (EGP Billion), 2011-2015
Table 25: Egyptian Individual Life Insurance - Direct Written Premium by Category (EGP Billion), 2015-2020
Table 26: Egyptian Individual Life Insurance - Number of Policies Sold (Million), 2011-2015
Table 27: Egyptian Individual Life Insurance - Number of Policies Sold (Million), 2015-2020
Table 28: Egyptian Group Life Insurance - Direct Written Premium by Category (EGP Billion), 2011-2015
Table 29: Egyptian Group Life Insurance - Direct Written Premium by Category (EGP Billion), 2015-2020
Table 30: Egyptian Group Life Insurance - Number of Policies Sold by Category (Thousand), 2011-2015
Table 31: Egyptian Group Life Insurance - Number of Policies Sold by Category (Thousand), 2015-2020
Table 32: Egyptian Life Insurance - Market Shares of Leading Life Insurers (%), 2015
Table 33: Misr Life Insurance Company - Key Facts
Table 34: Misr Life Insurance Company - Key Financials (EGP Million), 2011-2015
Table 35: Allianz Life Assurance Company - Egypt - Key Facts
Table 36: Allianz Life Assurance Company - Egypt - Key Financials (EGP Million), 2011-2015
Table 37: MetLife Egypt - Key Facts
Table 38: MetLife Egypt - Key Financials (EGP Million), 2011-2015
Table 39: Commercial International Life Insurance Company - Key Facts
Table 40: Commercial International Life Insurance Company - Key Financials (EGP Million), 2011-2015
Table 41: Egyptian Life Takaful Insurance Company - Key Facts
Table 42: Egyptian Life Takaful Insurance Company - Key Financials (EGP Million), 2011-2015
Table 43: Egypt - Insurance Regulatory Framework Key Features
Table 44: Egypt - Life Insurance Regulatory Framework
Table 45: Egypt - Property Insurance Regulatory Framework
Table 46: Egypt - Motor Insurance Regulatory Framework
Table 47: Egypt - Liability Insurance Regulatory Framework
Table 48: Egypt - Corporate Tax Rates for the Financial Year 2017
Table 49: Egyptian Life Insurance - Policies and Premium, 2011-2015
Table 50: Egyptian Life Insurance - Policies and Premium, 2015-2020
Table 51: Egyptian Life Insurance - Claims and Expenses, 2011-2015
Table 52: Egyptian Life Insurance - Claims and Expenses, 2015-2020
Table 53: Egyptian Life Insurance - Assets and Investments, 2011-2015
Table 54: Egyptian Life Insurance - Assets and Investments, 2015-2020
Table 55: Egyptian Life Insurance - Individual Life Insurance, 2011-2015
Table 56: Egyptian Life Insurance - Individual Life Insurance, 2015-2020
Table 57: Egyptian Life Insurance - Individual Life Insurance by Product, 2011-2015
Table 58: Egyptian Life Insurance - Individual Life Insurance by Product, 2015-2020
Table 59: Egyptian Life Insurance - Group Life Insurance, 2011-2015
Table 60: Egyptian Life Insurance - Group Life Insurance, 2015-2020
Table 61: Egyptian Life Insurance - Group Life Insurance by Product, 2011-2015
Table 62: Egyptian Life Insurance - Group Life Insurance by Product, 2015-2020
Table 63: Egyptian Life Insurance - Linked vs. Non-Linked Policies, 2011-2015
Table 64: Egyptian Life Insurance - Linked vs. Non-Linked Policies, 2015-2020
Table 65: Insurance Industry Definitions

List of Figures

Figure 1: Egyptian Real GDP (US$ Billion), 2011-2020
Figure 2: Egyptian Consumer Price Inflation (%), 2011-2020
Figure 3: EGP-US$ Exchange Rate, 2011-2020
Figure 4: Egyptian Current Account Balance as Percentage of GDP (%), 2011-2015
Figure 5: Egyptian Unemployment Rate (%), 2011-2020
Figure 6: Egyptian Population by Age Group, 1996-2025
Figure 7: Egyptian Life Insurance Penetration - Regional Comparison (%), 2015
Figure 8: Egyptian Insurance Segment Direct Written Premium Shares - Regional Comparison (%), 2015
Figure 9: Egyptian Life Insurance - Gross Written Premium (EGP Billion), 2011-2020
Figure 10: Egyptian Life Insurance - Penetration (%), 2011-2020
Figure 11: Egyptian Life Insurance - Premium per Capita (EGP), 2011-2020
Figure 12: Egyptian Life Insurance - Number of Policies Sold (Million), 2011-2020
Figure 13: Egyptian Life Insurance - Paid Claims (EGP Billion), 2011-2020
Figure 14: Egyptian Life Insurance - Sum Assured (EGP Billion), 2011-2020
Figure 15: Egyptian Life Insurance - Total Assets (EGP Billion), 2011-2020
Figure 16: Egyptian Life Insurance - Total Investment Income (EGP Billion), 2011-2020
Figure 17: Egyptian Life Insurance - Investment Portfolio (EGP Billion), 2011-2020
Figure 18: Egyptian Life Insurance - Investment Portfolio Dynamics by Category, 2011-2020
Figure 19: Egyptian Life Insurance - Direct Written Premium by Sub-Segment (EGP Billion), 2011-2020
Figure 20: Egyptian Life Insurance - Direct Written Premium Share by Sub-Segment, 2011-2020
Figure 21: Egyptian Life Insurance - Direct Written Premium Dynamics by Sub-Segment, 2011-2020
Figure 22: Egyptian Individual Life Insurance - Direct Written Premium by Category (EGP Billion), 2011-2020
Figure 23: Egyptian Individual Life Insurance - Direct Written Premium Share by Category, 2011-2020
Figure 24: Egyptian Individual Life Insurance - Direct Written Premium Dynamics by Category, 2011-2020
Figure 25: Egyptian Individual Life Insurance - Number of Policies Sold (Million), 2011-2020
Figure 26: Egyptian Individual Life Insurance - Penetration (%), 2011-2015
Figure 27: Egyptian Individual Life Insurance - Penetration (%), 2015-2020
Figure 28: Egyptian Group Life Insurance - Direct Written Premium by Category (EGP Billion), 2011-2020
Figure 29: Egyptian Group Life Insurance - Direct Written Premium Share by Category (EGP Billion), 2011-2020
Figure 30: Egyptian Group Life Insurance - Direct Written Premium Dynamics by Category (EGP Billion), 2011-2020
Figure 31: Egyptian Group Life Insurance - Number of Policies Sold by Category (Thousand), 2011-2020
Figure 32: Egyptian Group Life Insurance - Penetration (%), 2011-2015
Figure 33: Egyptian Group Life Insurance - Penetration (%), 2015-2020
Figure 34: Egyptian Life Insurance - Market Shares of Leading Life Insurers (%), 2015
Figure 35: Egypt- Insurance Supervision and Control at Various Levels
Figure 36: Egypt - Insurance Regulatory Frameworks for Company Registration and Operation

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