Insurance
From The Report: Egypt 2018
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With the largest population in the Middle East, a relatively developed life insurance industry and a government determined to pursue ambitious infrastructure development, Egypt is a promising market for both domestic and foreign insurers. There are currently 34 insurance and reinsurance companies in Egypt and despite concerns regarding sector privatisation, regulatory changes such as proposed mandatory insurance cover for police and security forces and the government health care provision strategy will drive premium growth. However, a significant currency devaluation and the risk of economic disturbance remain as challenges to growth in the sector.

This chapter includes an interview with Hamed Mabrouk, Head of North Africa, Willis Towers Watson.

Articles from this Chapter

Overview

History in the making: Government strategy paves the way for sector growth
OBG
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With the largest population in the Middle East, a relatively developed life insurance industry and a government determined to pursue ambitious infrastructure development, Egypt is a promising market for both domestic and foreign insurers. In 2016 premiums collected by the sector grew by more than 12% over the previous year, and an ongoing reform of the health care sector presents an opportunity for further expansion over the medium term. However, a significant currency devaluation and the…

Interview

New phase: Hamed Mabrouk, Head of North Africa, Willis Towers Watson, on challenges and achievements in the sector
OBG
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Interview:Hamed Mabrouk How has the insurance sector been affected by recent reforms and policy changes? HAMED MABROUK: Insurance is very interesting because we deal with practically every sector in the economy and companies of all sizes. Thus, we see which sectors are doing well and which companies are making investments, and we have an overall view of what is happening. When we look at the recent history of Egypt, we see that there have been many phases. We had a phase when most of our…