Egypt Financial Services Articles & Analysis

Chapter | Insurance from The Report: Egypt 2017

The Egyptian insurance industry, one of the oldest in the region, has shown a welcome degree of resilience in recent years. Despite its long history, however, the market remains at a relatively nascent stage of growth compared to those in more advanced economies, characterised by a low penetration rate and modest insurance density. While this means that growth opportunities abound, questions...

While Egypt continues to face considerable economic challenges as it confronts the legacy of its recent political history, at the outset of 2017 the nation’s economic planners have reason for optimism.

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Egypt’s microfinance segment is gaining new momentum thanks to central bank and government initiatives.

Egypt’s banks are seeing rising profits and robust capitalisation, as evidenced by a flurry of recent releases of FY 2015/16 results from the country’s major banks.

 

With nine operators in the Egyptian insurance sector offering takaful (Islamic insurance), sharia-compliant coverage is already a well-established component of the industry. Many market observers, however, feel that compared to its success in the Gulf, the Egyptian takaful story is one of unrealised potential.

 

The recent history of bancassurance in Egypt has at times been a troubled one. While the concept was enthusiastically adopted in the period of sustained economic growth leading up to 2008, the pace of the industry’s expansion exposed a number of weaknesses. Chief among these were a lack of adequately trained staff and an increasing amount of...

 

The Egyptian insurance industry, one of the oldest in the region, has shown a welcome degree of resilience in recent years. Despite its long history, however, the market remains at a relatively nascent stage of growth compared to those in advanced economies, characterised by a low penetration rate and modest insurance density. While this means...

 

What impact has the depreciation of the Egyptian pound had on the reinsurance industry?