Insurance

Egypt 2020 - Insurance

Although Egypt’s insurance sector has shown strong growth over the past decade, it faces a challenging period in FY 2020/21. An ongoing process of regulatory reform promises to strengthen the legislative platform that underpins the industry, but it is likely to result in short-term difficulties for some sections of the market, compounded by the disruption caused by Covid-19. Nevertheless, the sector’s fundamentals support a positive outlook for long-term expansion, and Fitch Ratings forecasts that the life and non-life segments will see average annual growth of 5.9% and 9.9% per year, respectively, between 2020 and 2024. Given that premium as a percentage of GDP is less than 1%, the regulatory shift towards greater insurance penetration and wider financial inclusion should support the sector’s development in the coming years. This chapter contains an interview with Mohammed Omran, Chairman of the Financial Regulatory Authority. ¬

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Previous chapter from this report:
Capital Markets, from The Report: Egypt 2020
First article from this chapter and report:
Rollout of universal health coverage in Egypt
Cover of The Report: Egypt 2020

The Report

This chapter is from the Egypt 2020 report. Explore other chapters from this report.

Interviews & Viewpoints

Sketch of Mohammed Omran, Chairman, Financial Regulatory Authority (FRA)
Mohammed Omran, Chairman, Financial Regulatory Authority (FRA): Interview

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