Life Insurance in Egypt, Key Trends and Opportunities to 2021

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Date: 23-Oct-2017
No. of pages: 98
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Synopsis

Timetric's 'Life Insurance in Egypt Key Trends and Opportunities to 2021' 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 (2012-2016) and forecast period (2016-2021).

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 2021' 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 2012-2016 review period, and projected figures for the 2016-2021 forecast period.

• It offers a detailed analysis of the key categories in the Egyptian life insurance segment, and market forecasts to 2021.

• 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 May 2017, the Egyptian Society for Cooperative Insurance (ESCI) introduced mortgage insurance policy for the low-income group.

• In May 2017, Allianz Egypt announced its partnership with Orange Telecom to provide insurance to employees and assets of small- and medium-sized enterprises.

• FDI in Egypt increased from EGP17.0 billion (US$2.8 billion) in 2012 to EGP69.0 billion (US$6.8 billion) in 2016 at a review period CAGR of 42.1%.

• During the review period 2012-2016, the Egyptian life insurance gross written grew at a CAGR of 16.7%.

Life Insurance in Egypt, Key Trends and Opportunities to 2021

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 Active policies
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 Penetration
5.2 Group Life Insurance
5.2.1 Premium
5.2.2 Active policies
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 - company overview
7.1.3 MetLife Egypt Insurance Company - company overview
7.1.4 Commercial International Life Insurance Company - company overview
7.1.5 Suez Canal Life 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 Category
9.6 Group Life Insurance
9.7 Group Life Insurance by Category
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, 2016
Table 2: Egyptian Life Insurance - Segment Shares of the Top Insurers, 2016
Table 3: Egyptian Government Credit Ratings
Table 4: Egyptian Life Insurance - Gross Written Premium (EGP Billion and US$ Million), 2012-2016
Table 5: Egyptian Life Insurance - Penetration (%), 2012-2016
Table 6: Egyptian Life Insurance - Gross Written Premium (EGP Billion and US$ Million), 2016-2021
Table 7: Egyptian Life Insurance - Penetration (%), 2016-2021
Table 8: Egyptian Life Insurance - New Business Direct Written Premium (EGP Billion and US$ Million), 2012-2016
Table 9: Egyptian Life Insurance - New Business Direct Written Premium (EGP Billion and US$ Million), 2016-2021
Table 10: Egyptian Life Insurance - Premium per Capita (EGP and US$), 2012-2016
Table 11: Egyptian Life Insurance - Premium per Capita (EGP and US$), 2016-2021
Table 12: Egyptian Life Insurance - Number of Active Policies (Million), 2012-2016
Table 13: Egyptian Life Insurance - Number of Active Policies (Million), 2016-2021
Table 14: Egyptian Life Insurance - Paid Claims (EGP Billion and US$ Million), 2012-2016
Table 15: Egyptian Life Insurance - Paid Claims (EGP Billion and US$ Million), 2016-2021
Table 16: Egyptian Life Insurance - Sum Assured (EGP Billion and US$ Billion), 2012-2016
Table 17: Egyptian Life Insurance - Sum Assured (EGP Billion and US$ Billion), 2016-2021
Table 18: Egyptian Life Insurance - Total Assets (EGP Billion and US$ Billion), 2012-2016
Table 19: Egyptian Life Insurance - Total Assets (EGP Billion and US$ Billion), 2016-2021
Table 20: Egyptian Life Insurance - Total Investment Income (EGP Billion and US$ Million), 2012-2016
Table 21: Egyptian Life Insurance - Total Investment Income (EGP Billion and US$ Million), 2016-2021
Table 22: Egyptian Life Insurance - Investment Portfolio (EGP Billion), 2012-2016
Table 23: Egyptian Life Insurance - Investment Portfolio (EGP Billion), 2016-2021
Table 24: Egyptian Life Insurance - Direct Written Premium by Sub-Segment (EGP Billion),2012-2016
Table 25: Egyptian Life Insurance - Direct Written Premium by Sub-Segment (EGP Billion), 2016-2021
Table 26: Egyptian Individual Life Insurance - Direct Written Premium by Category (EGP Billion), 2012-2016
Table 27: Egyptian Individual Life Insurance - Direct Written Premium by Category (EGP Billion), 2016-2021
Table 28: Egyptian Group Life Insurance - Direct Written Premium by Category (EGP Billion), 2012-2016
Table 29: Egyptian Group Life Insurance - Direct Written Premium by Category (EGP Billion), 2016-2021
Table 30: Egyptian Group Life Insurance - Number of Active Policies by Category (Thousand), 2012-2016
Table 31: Egyptian Group Life Insurance - Number of Active Policies by Category (Thousand), 2016-2021
Table 32: Egyptian Life Insurance - Segment Shares of the Leading Insurers (%), 2016
Table 33: Misr Life Insurance Company - Key Facts
Table 34: Misr Life Insurance Company - Key Financials (EGP Million), 2012-2016
Table 35: Allianz Life Assurance Company - Key Facts
Table 36: MetLife Egypt Insurance Company - Key Facts
Table 37: MetLife Egypt Insurance Company - Key Financials (EGP Million), 2012-2016
Table 38: Commercial International Life Insurance Company - Key Facts
Table 39: Suez Canal Life Insurance Company - Key Facts
Table 40: Egypt - Insurance Regulatory Framework Key Features
Table 41: Egypt - Life Insurance Regulatory Framework
Table 42: Egypt - Property Insurance Regulatory Framework
Table 43: Egypt - Motor Insurance Regulatory Framework
Table 44: Egypt - Liability Insurance Regulatory Framework
Table 45: Egypt - Corporate Tax Rates for the Financial Year 2017
Table 46: Egyptian Life Insurance - Policies and Premium, 2012-2016
Table 47: Egyptian Life Insurance - Policies and Premium, 2016-2021
Table 48: Egyptian Life Insurance - Claims and Expenses, 2012-2016
Table 49: Egyptian Life Insurance - Claims and Expenses, 2016-2021
Table 50: Egyptian Life Insurance - Assets and Investments, 2012-2016
Table 51: Egyptian Life Insurance - Assets and Investments, 2016-2021
Table 52: Egyptian Life Insurance - Individual Life Insurance, 2012-2016
Table 53: Egyptian Life Insurance - Individual Life Insurance, 2016-2021
Table 54: Egyptian Life Insurance - Individual Life Insurance by Product, 2012-2016
Table 55: Egyptian Life Insurance - Individual Life Insurance by Product, 2016-2021
Table 56: Egyptian Life Insurance - Group Life Insurance, 2012-2016
Table 57: Egyptian Life Insurance - Group Life Insurance, 2016-2021
Table 58: Egyptian Life Insurance - Group Life Insurance by Product, 2012-2016
Table 59: Egyptian Life Insurance - Group Life Insurance by Product, 2016-2021
Table 60: Egyptian Life Insurance - Linked vs. Non-Linked Policies, 2012-2016
Table 61: Egyptian Life Insurance - Linked vs. Non-Linked Policies, 2016-2021
Table 62: Insurance Industry Definitions

List of Figures
Figure 1: Egyptian Real GDP (EGP Trillion), 2012-2021 12
Figure 2: Egyptian Inflation Rate, 2012-2021 14
Figure 3: Egyptian EGP-US$ Exchange Rate, 2012-2016 15
Figure 4: Egyptian Current Account Balance (% of GDP), 2012-2016 16
Figure 5: Egyptian Unemployment Rate, 2012-2021 17
Figure 6: Egyptian Population by Age Group, 1996-2025 18
Figure 7: Egyptian Life Insurance Penetration - Regional Comparison (%), 2016 22
Figure 8: Egyptian Insurance Segment Direct Written Premium Shares - Regional Comparison (%), 2016 23
Figure 9: Egyptian Life Insurance - Gross Written Premium (EGP Billion), 2012-2021 25
Figure 10: Egyptian Life Insurance - Penetration (%), 2012-2021 25
Figure 11: Egyptian Life Insurance - New Business Direct Written Premium (EGP Billion), 2012-2021 26
Figure 12: Egyptian Life Insurance - Premium per Capita (EGP), 2012-2021 27
Figure 13: Egyptian Life Insurance - Number of Active Policies (Million), 2012-2021 28
Figure 14: Egyptian Life Insurance - Paid Claims (EGP Billion), 2012-2021 29
Figure 15: Egyptian Life Insurance - Sum Assured (EGP Million), 2012-2021 30
Figure 16: Egyptian Life Insurance - Total Assets (EGP Billion), 2012-2021 31
Figure 17: Egyptian Life Insurance - Total Investment Income (EGP Billion), 2012-2021 32
Figure 18: Egyptian Life Insurance - Investment Portfolio (EGP Billion), 2012-2021 34
Figure 19: Egyptian Life Insurance - Investment Portfolio Dynamics by Category, 2012-2021 34
Figure 20: Egyptian Life Insurance - Direct Written Premium by Sub-Segment (EGP Billion), 2012-2021 36
Figure 21: Egyptian Life Insurance - Direct Written Premium Share by Sub-Segment, 2012-2021 36
Figure 22: Egyptian Life Insurance - Direct Written Premium Dynamics by Sub-Segment, 2012-2021 37
Figure 23: Egyptian Individual Life Insurance - Direct Written Premium by Category (EGP Billion), 2012-2021 39
Figure 24: Egyptian Individual Life Insurance - Direct Written Premium Share by Category, 2012-2021 39
Figure 25: Egyptian Individual Life Insurance - Direct Written Premium Dynamics by Category, 2012-2021 40
Figure 26: Egyptian Individual Life Insurance - Penetration (%), 2012-2016 41
Figure 27: Egyptian Individual Life Insurance - Penetration (%), 2016-2021 41
Figure 28: Egyptian Group Life Insurance - Direct Written Premium by Category (EGP Billion), 2012-2021 43
Figure 29: Egyptian Group Life Insurance - Direct Written Premium Share by Category (EGP Billion), 2012-2021 43
Figure 30: Egyptian Group Life Insurance - Direct Written Premium Dynamics by Category (EGP Billion), 2012-2021 44
Figure 31: Egyptian Group Life Insurance - Number of Active Policies by Category (Thousand), 2012-2021 45
Figure 32: Egyptian Group Life Insurance - Penetration (%), 2012-2016 46
Figure 33: Egyptian Group Life Insurance - Penetration (%), 2016-2021 46
Figure 34: Egyptian Life Insurance - Segment Shares of the Leading Insurers (%), 2016 51
Figure 35: Egypt- Insurance Supervision and Control at Various Levels 70
Figure 36: Egypt - Insurance Regulatory Frameworks for Company Registration and Operation 74
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