Life Insurance in Egypt, Key Trends and Opportunities to 2017

Published: Feb, 2014 | Pages: 197 | Publisher: Timetric
Industry: Insurance | Report Format: Electronic (PDF)

Synopsis
The report provides in-depth market analysis, information and insights into the Egyptian life insurance segment, including:
The Egyptian life insurance segment's growth prospects by life insurance categories
Key trends and drivers for the life insurance segment
The various distribution channels in the Egyptian life insurance segment
The detailed competitive landscape in the life insurance segment in Egypt
Regulatory framework of the Egyptian insurance industry
A description of the life reinsurance segment in Egypt
Porter's Five Forces analysis of the life insurance segment

Summary
The political revolution that began in 2011 continues to suppress the Egyptian economy. GDP growth declined from 5.1% in 2010 to 1.8% in 2011. The economy is struggling with reductions in foreign direct investment, inflation and high unemployment. Revenues from tourism were negatively affected by the political upheaval, while the Egyptian insurance industry maintained growth. The country's life insurance segment, which accounted for 46.5% of the insurance industry's gross written premium, expanded at a CAGR of 8.1% during the review period (2008-2012). The written premium of the segment valued EGP4.5 billion (US$0.7 billion) in 2012. In 2012, individual life insurance accounted for the highest share of the life segment with 41.6%, followed by pensions with 21.6%. The increasing population and rising awareness at times of uncertain political and economic conditions supported the growth. The segment is highly concentrated, with the five leading life insurers accounting for 99.1% of the total gross written premium in 2012.
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 2008-2012 review period and forecast figures for the 2012-2017 forecast period.
It offers a detailed analysis of the key categories in the Egyptian 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 life insurance products in Egypt.
Using Porter's industry-standard "Five Forces" analysis, it details the competitive landscape in Egypt for the life insurance business.
It provides a detailed analysis of the reinsurance segment in Egypt and its growth prospects.
It profiles the top life insurance companies in Egypt and outlines the key regulations affecting them.
Reason 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 within the Egyptian life insurance segment.
Assess the competitive dynamics in the life insurance segment, along with the reinsurance segment.
Identify the growth opportunities and market dynamics within key product categories.
Gain insights into key regulations governing the Egyptian insurance industry and its impact on companies and the market's future.
Key Highlights
The Egyptian life segment accounted for 46.5% of the total industry's gross written premium in 2012.
Individual life and pension products were the leading life insurance product category during the review period.
Traditional channels such as brokers and agencies dominated the distribution landscape and accounted for 89% of the total commission paid in 2012.
The life segment is highly concentrated, with the country's leading 10 life insurers accounting for a combined 99.1% share of the segment's total net written premium value in 2012.
As of 2012, the life segment comprised 13 companies, of which 10 were domestic insurers and three were the branch offices of foreign insurers.

 1 Executive Summary
2 Introduction
2.1 What is this Report About?
2.2 Definitions
2.3 Methodology
3 Egyptian Insurance Industry Attractiveness
3.1 Insurance Industry Size, 2008-2017
3.2 Key Industry Trends and Drivers
4 Life Insurance Outlook
4.1 Life Insurance Growth Prospects by Category
4.1.1 Individual life insurance
4.1.2 Individual pension insurance
4.1.3 Individual unit-linked insurance
4.1.4 Other individual insurance
4.1.5 Group life insurance
4.1.6 Group superannuation insurance
4.2 Life Insurance Growth Prospects by Product Type
4.2.1 Individual single-premium policies
4.2.2 Individual non-single-premium policies
4.2.3 Group single-premium policies
4.2.4 Group non-single-premium policies
5 Alysis by Distribution Channel
5.1 Direct marketing
5.2 Agencies
5.3 E-commerce
5.4 Brokers
5.5 Other channels
6 Regulatory Policies
7 Porter's Five Forces Alysis - Egyptian Life Insurance
7.1 Bargaining Power of Suppliers: Medium
7.2 Bargaining Power of Buyers: Low to Medium
7.3 Barriers to Entry: Medium to High
7.4 Intensity of Rivalry: Medium
7.5 Threat of Substitutes: Low
8 Reinsurance Growth Dymics and Challenges
8.1 Reinsurance Segment Size, 2008-2017
8.2 Reinsurance segment size by type of insurance, 2008-2017
9 Competitive Landscape and Strategic Insights
9.1 Overview
9.2 Leading Companies in the Egyptian Life Insurance Segment
9.3 Comparison of the Leading Five Insurers
9.3.1 Paid claims
9.3.2 Total assets
9.3.3 Total Investment Income
9.4 Egypt Life Insurance - Company Overview
9.4.1 Egypt Life Insurance - key facts
9.4.2 Egypt Life Insurance - key fincials
9.5 Allianz Life Insurance - Egypt - Company Overview
9.5.1 Allianz Life Insurance - Egypt - key facts
9.5.2 Allianz Life Insurance - Egypt - key fincials
9.6 Pharaonic American Life Insurance Company- Company Overview
9.6.1 Pharaonic American Life Insurance Company - key facts
9.6.2 Pharaonic American Life Insurance Company - key fincials
9.7 Commercial Intertiol Life Insurance Co. - Company Overview
9.7.1 Commercial Intertiol Life Insurance Co. - key facts
9.7.2 Commercial Intertiol Life Insurance Co.- key fincials
9.8 Suez Cal Insurance Company- Company Overview
9.8.1 Suez Cal Insurance Company - key facts
9.8.2 Suez Cal Insurance Company - key fincials
9.9 NSGB Life Insurance - Company Overview
9.9.1 NSGB Life Insurance - key facts
9.9.2 NSGB Life Insurance - key fincials
9.1 Delta Insurance Co. - Company Overview
9.10.1 Delta Insurance Co. - key facts
9.10.2 Delta Insurance Co.- key fincials
9.11 ACE Life Insurance - Overview
9.11.1 ACE Life Insurance - key facts
9.11.2 ACE Life Insurance - key fincials
9.12 Mohandes Ins. Co., - Overview
9.12.1 Mohandes Ins. Co., - key facts
9.12.2 Mohandes Ins. Co., - key fincials
9.13 Egyptian Takaful Life Insurance Company - Overview
9.13.1 Egyptian Takaful Life Insurance Company - key facts
9.13.2 Egyptian Takaful Life Insurance - key fincials
10 Business Environment and Country Risk
10.1 Business Confidence
10.1.1 Market capitalization trend - the Egyptian Stock Exchange (EGX30), Egypt
10.2 Economic Performance
10.2.1 GDP at constant prices (US$)
10.2.2 GDP per capita at constant prices (US$)
10.2.3 GDP at current prices (US$)
10.2.4 GDP per capita at current prices (US$)
10.2.5 GDP by key segments
10.2.6 Agriculture, hunting, forestry and fishing net output at current prices (US$)
10.2.7 Agriculture, hunting, forestry and fishing net output at current prices as a percentage of GDP
10.2.8 Manufacturing net output at current prices (US$)
10.2.9 Manufacturing net output at current prices as a percentage of GDP
10.2.10 Mining, manufacturing and utilities at current prices (US$)
10.2.11 Mining, manufacturing and utilities at current prices, as percentage of GDP
10.2.12 Construction net output at current prices, (US$)
10.2.13 Construction net output at current prices as a percentage of GDP
10.2.14 Inflation rate
10.2.15 Merchandise exports as a percentage of GDP
10.2.16 Goods imports as a percentage of GDP
10.2.17 Annual average exchange rate EGP-US$
10.2.18 Total internet subscribers
10.3 Labor Force
10.3.1 Labor force
10.3.2 Unemployment rate
10.4 Demographics
10.4.1 Gross tiol disposable income (US$)
10.4.2 Household consumption expenditure (US$)
10.4.3 Total population
10.4.4 Urban and rural populations
10.4.5 Age distribution of the total population
11 Appendix
11.1 Methodology
11.2 Contact Timetric
11.3 About Timetric
11.4 Timetric's Services
11.5 Disclaimer


List of Tables
Table 1: Insurance Industry Definitions
Table 2: Egyptian Insurance - Overall Written Premium by Segment (EGP Billion), 2008-2012
Table 3: Egyptian Insurance - Overall Written Premium by Segment (US$ Billion), 2008-2012
Table 4: Egyptian Insurance - Overall Written Premium by Segment (EGP Billion), 2012-2017
Table 5: Egyptian Insurance - Overall Written Premium by Segment (US$ Billion), 2012-2017
Table 6: Egyptian Insurance - Segmentation (% Share), 2008-2017
Table 7: Egyptian Life Insurance - Written Premium by Category (EGP Billion), 2008-2012
Table 8: Egyptian Life Insurance - Written Premium by Category (US$ Billion), 2008-2012
Table 9: Egyptian Life Insurance - Written Premium by Category (EGP Billion), 2012-2017
Table 10: Egyptian Life Insurance - Written Premium by Category (US$ Billion), 2012-2017
Table 11: Egyptian Life Insurance - Earned Premium (EGP Billion), 2008-2012
Table 12: Egyptian Life Insurance - Earned Premium (EGP Billion), 2012-2017
Table 13: Egyptian Life Insurance - Sum Assured (EGPBillion), 2008-2012
Table 14: Egyptian Life Insurance - Sum Assured (EGPBillion), 2012-2017
Table 15: Egyptian Life Insurance - Paid Claims (EGP Billion), 2008-2012
Table 16: Egyptian Life Insurance - Paid Claims (EGP Billion), 2012-2017
Table 17: Egyptian Life Insurance - Incurred Loss (EGP Billion), 2008-2012
Table 18: Egyptian Life Insurance - Incurred Loss (EGP Billion), 2012-2017
Table 19: Egyptian Life Insurance - Loss Ratio (%), 2008-2012
Table 20: Egyptian Life Insurance - Loss Ratio (%), 2012-2017
Table 21: Egyptian Life Insurance - Commissions and Expenses (EGP Billion), 2008-2012
Table 22: Egyptian Life Insurance - Commissions and Expenses (EGP Billion), 2012-2017
Table 23: Egyptian Life Insurance - Combined Ratio (%), 2008-2012
Table 24: Egyptian Life Insurance - Combined Ratio (%), 2012-2017
Table 25: Egyptian Life Insurance - Frauds and Crimes (EGP Billion), 2008-2012
Table 26: Egyptian Life Insurance - Frauds and Crimes (EGP Billion), 2012-2017
Table 27: Egyptian Life Insurance - Total Assets (EGP Billion), 2008-2012
Table 28: Egyptian Life Insurance - Total Assets (EGP Billion), 2012-2017
Table 29: Egyptian Life Insurance - Total Investment Income (EGP Billion), 2008-2012
Table 30: Egyptian Life Insurance - Total Investment Income (EGP Billion), 2012-2017
Table 31: Egyptian Life Insurance - Retentions (EGP Billion), 2008-2012
Table 32: Egyptian Life Insurance - Retentions (EGP Billion), 2012-2017
Table 33: Egyptian Individual Life Insurance- Number of Active Policies (Thousand), 2008-2012
Table 34: Egyptian Individual Life Insurance - Number of Active Policies, 2012-2017
Table 35: Egyptian Individual Life Insurance - Written Premium (EGP Billion), 2008-2012
Table 36: Egyptian Individual Life Insurance - Written Premium (EGP Billion), 2012-2017
Table 37: Egyptian Individual Pension Insurance - Number of Active Policies (Thousand), 2008-2012
Table 38: Egyptian Individual Pension Insurance - Number of Active Policies (Thousand), 2012-2017
Table 39: Egyptian Individual Pension Insurance - Written Premium (EGP Billion), 2008-2012
Table 40: Egyptian Individual Pension Insurance - Written Premium (EGP Billion), 2012-2017
Table 41: Egyptian Individual Unit-Linked Insurance - Number of Active Policies (Thousand), 2008-2012
Table 42: Egyptian Individual Unit-Linked Insurance - Number of Active Policies (Thousand), 2012-2017
Table 43: Egyptian Individual Unit-Linked Insurance - Written Premium (EGP Billion), 2008-2012
Table 44: Egyptian Individual Unit-Linked Insurance - Written Premium (EGP Billion), 2012-2017
Table 45: Egyptian Other Individual Insurance - Number of Active Policies (Thousand), 2008-2012
Table 46: Egyptian Other Individual Insurance - Number of Active Policies (Thousand), 2012-2017
Table 47: Egyptian Other Individual Insurance - Written Premium (EGPMillion), 2008-2012
Table 48: Egyptian Other Individual Insurance - Written Premium (EGPMillion), 2012-2017
Table 49: Egyptian Group Life Insurance - Number of Active Policies (Thousand), 2008-2012
Table 50: Egyptian Group Life Insurance - Number of Active Policies (Thousand), 2012-2017
Table 51: Egyptian Group Life Insurance - Written Premium (EGP Billion), 2008-2012
Table 52: Egyptian Group Life Insurance - Written Premium (EGP Billion), 2012-2017
Table 53: Egyptian Group Superannuation Insurance - Number of Active Policies (Thousand), 2008-2012
Table 54: Egyptian Group Superannuation Insurance - Number of Active Policies (Thousand), 2012-2017
Table 55: Egyptian Group Superannuation Insurance - Written Premium (EGP Billion), 2008-2012
Table 56: Egyptian Group Superannuation Insurance - Written Premium (EGP Billion), 2012-2017
Table 57: Egyptian Individual Single-Premium Insurance - Number of Active Policies (Thousand), 2008-2012
Table 58: Egyptian Individual Single-Premium Insurance - Number of Active Policies (Thousand), 2012-2017
Table 59: Egyptian Individual Single-Premium Insurance - Written Premium (EGP Billion), 2008-2012
Table 60: Egyptian Individual Single-Premium Insurance - Written Premium (EGP Billion), 2012-2017
Table 61: Egyptian Individual Non-Single-Premium Insurance - Number of Active Policies (Thousand), 2008-2012
Table 62: Egyptian Individual Non-Single-Premium Insurance - Number of Active Policies (Thousand), 2012-2017
Table 63: Egyptian Individual Non-Single-Premium Insurance - Written Premium (EGP Billion), 2008-2012
Table 64: Egyptian Individual Non-Single-Premium Insurance - Written Premium ( (EGP Billion), 2012-2017
Table 65: Egyptian Group Single-Premium Insurance - Number of Active Policies (Thousand), 2008-2012
Table 66: Egyptian Group Single-Premium Insurance - Number of Active Policies (Thousand), 2012-2017
Table 67: Egyptian Group Single-Premium Insurance - Written Premium (EGP Billion), 2008-2012
Table 68: Egyptian Group Single-Premium Insurance - Written Premium (EGP Billion), 2012-2017
Table 69: Egyptian Group Non-Single-Premium Insurance - Number of Active Policies (Thousand), 2008-2012
Table 70: Egyptian Group Non-Single-Premium Insurance - Number of Active Policies (Thousand), 2012-2017
Table 71: Egyptian Group Non-Single-Premium Insurance - Written Premium (EGP Billion), 2008-2012
Table 72: Egyptian Group Non-Single-Premium Insurance - Written Premium (EGP Billion), 2012-2017
Table 73: Egyptian Life Insurance - Direct Marketing Commission Paid (EGP Million), 2008-2012
Table 74: Egyptian Life Insurance - Direct Marketing Commission Paid (EGP Million), 2012-2017
Table 75: Egyptian Life Insurance - New Business Written Premium Through Direct Marketing (EGP Million), 2008-2012
Table 76: Egyptian Life Insurance - New Business Written Premium Through Direct Marketing (EGP Million), 2012-2017
Table 77: Egyptian Life Insurance - New Policies Sold Through Direct Marketing (Thousand), 2008-2012
Table 78: Egyptian Life Insurance - New Policies Sold Through Direct Marketing (Thousand), 2012-2017
Table 79: Egyptian Life Insurance - Number of Direct Marketing Distributors, 2008-2012
Table 80: Egyptian Life Insurance - Number of Direct Marketing Distributors, 2012-2017
Table 81: Egyptian Life Insurance - Commission Paid to Agencies (EGP Million), 2008-2012
Table 82: Egyptian Life Insurance - Commission Paid to Agencies (EGP Million), 2012-2017
Table 83: Egyptian Life Insurance - New Business Written Premium Through Agencies (EGP Million), 2008-2012
Table 84: Egyptian Life Insurance - New Business Written Premium Through Agencies (EGP Million), 2012-2017
Table 85: Egyptian Life Insurance - New Policies Sold Through Agencies (Thousand), 2008-2012
Table 86: Egyptian Life Insurance - New Policies Sold Through Agencies (Thousand), 2012-2017
Table 87: Egyptian Life Insurance - Number of Agencies, 2008-2012
Table 88: Egyptian Life Insurance - Number of Agencies, 2012-2017
Table 89: Egyptian Life Insurance - E-Commerce Commission Paid (EGP Million), 2008-2012
Table 90: Egyptian Life Insurance - E-Commerce Commission Paid (EGP Million), 2012-2017
Table 91: Egyptian Life Insurance - New Business Written Premium Through E-Commerce (EGP Million), 2008-2012
Table 92: Egyptian Life Insurance - New Business Written Premium Through E-Commerce (EGP Million), 2012-2017
Table 93: Egyptian Life Insurance - New Policies Sold Through E-Commerce (Thousand), 2008-2012
Table 94: Egyptian Life Insurance - New Policies Sold Through E-Commerce (Thousand), 2012-2017
Table 95: Egyptian Life Insurance - Number of E-Commerce Distributors, 2008-2012
Table 96: Egyptian Life Insurance - Number of E-Commerce Distributors, 2012-2017
Table 97: Egyptian Life Insurance - Commission Paid to Brokers (EGP Million), 2008-2012
Table 98: Egyptian Life Insurance - Commission Paid to Brokers (EGP Million), 2012-2017
Table 99: Egyptian Life Insurance - New Business Written Premium Through Brokers (EGP Million), 2008-2012
Table 100: Egyptian Life Insurance - New Business Written Premium Through Brokers (EGP Million), 2012-2017
Table 101: Egyptian Life Insurance - New Policies Sold Through Brokers (Thousand), 2008-2012
Table 102: Egyptian Life Insurance - New Policies Sold Through Brokers (Thousand), 2012-2017
Table 103: Egyptian Life Insurance - Number of Brokers, 2008-2012
Table 104: Egyptian Life Insurance - Number of Brokers, 2012-2017
Table 105: Egyptian Life Insurance - Commission Paid to Other Channels (EGP Million), 2008-2012
Table 106: Egyptian Life Insurance - Commission Paid to Other Channels (EGP Million), 2012-2017
Table 107: Egyptian Life Insurance - New Business Written Premium Through Other Channels (EGP Million), 2008-2012
Table 108: Egyptian Life Insurance - New Business Written Premium Through Other Channels (EGP Million), 2012-2017
Table 109: Egyptian Life Insurance - New Policies Sold Through Other Channels (Thousand), 2008-2012
Table 110: Egyptian Life Insurance - New Policies Sold Through Other Channels (Thousand), 2012-2017
Table 111: Egyptian Life Insurance - Number of Distributors in Other Channels, 2008-2012
Table 112: Egyptian Life Insurance - Number of Distributors in Other Channels, 2012-2017
Table 113: Reinsurance in Egypt by Category (EGP Billion), 2008-2012
Table 114: Reinsurance in Egypt by Category (US$ Billion), 2008-2012
Table 115: Reinsurance in Egypt by Category (EGP Billion), 2012-2017
Table 116: Reinsurance in Egypt by Category (US$ Billion), 2012-2017
Table 117: Egyptian Premium Ceded to Reinsurance by Type of Insurance (EGP Billion), 2008-2012
Table 118: Egyptian Premium Ceded to Reinsurance by Type of Insurance (US$ Billion), 2008-2012
Table 119: Egyptian Premium Ceded to Reinsurance by Type of Insurance (EGP Billion), 2012-2017
Table 120: Egyptian Premium Ceded to Reinsurance by Type of Insurance (US$ Billion), 2012-2017
Table 121: Egyptian Life Insurance - Percentage of Reinsurance Ceded (%), 2008-2012
Table 122: Egyptian Life Insurance - Percentage of Reinsurance Ceded (%), 2012-2017
Table 123: Egyptian Non-Life Insurance - Percentage of Reinsurance Ceded (%), 2008-2012
Table 124: Egyptian Non-Life Insurance - Percentage of Reinsurance Ceded (%), 2012-2017
Table 125: Egyptian Personal Accident and Health Insurance - Percentage of Reinsurance Ceded (%), 2008-2012
Table 126: Egyptian Personal Accident and Health Insurance - Percentage of Reinsurance Ceded (%), 2012-2017
Table 127: Egyptian Life Insurance - Leading Companies Market Share (%), 2012
Table 128: Egypt Life Insurance, Key Facts
Table 129: Egypt Life Insurance, Key Financials (EGP Million)
Table 130: Allianz Life Insurance - Egypt, Key Facts
Table 131: Allianz Life Insurance - Egypt, Key Financials (EGP Million)
Table 132: Pharaonic American Life Insurance Company, Key Facts
Table 133: Pharaonic American Life Insurance, Key Financials (EGP Million)
Table 134: Commercial International Life Insurance Co., Key Facts
Table 135: Commercial International Life Insurance Co., Key Financials (EGP Million)
Table 136: Suez Canal Insurance Company, Key Facts
Table 137: Suez Canal Insurance Company, Key Financials (EGP Million)
Table 138: NSGB Life Insurance, Key Facts
Table 139: NSGB Life Insurance, Key Financials (EGP Million)
Table 140: Delta Insurance Co., Key Facts
Table 141: Delta Insurance Co., Key Financials (EGP Million)
Table 142: ACE Life Insurance, Key Facts
Table 143: ACE Life Insurance, Key Financials (EGP Million)
Table 144: Mohandes Ins. Co., Key Facts
Table 145: Mohandes Ins. Co., Key Financials (EGP Million)
Table 146: Egyptian Takaful Life Insurance Company, Key Facts
Table 147: Egyptian Takaful Life Insurance Company, Key Financials (EGP Million)