Egypt Insurance Market 2016


T
he Review is based on annual figures released by the Egyptian Insurance Supervisory Authority EISA for the year 2016. 



Market  GWP Development 2011 - 2015 (figures in 1,000,000 EGP)
GWP in Million 2011 2012 2013 2014 2015 2016
Life insurance  3,999 4,483 5,367 6,154 7,339 8,324
% of Increase   12.10% 19.7% 14.7% 19.3% 13.4%
Non-life insurance  5,655 6,089 6,953 7,546 8,118 9,009
% of Increase   7.67% 14.19% 8.53% 7.58% 10.98%
Total  9,654 10,572 12,320 13,700 15,457 17,333
% of Increase   9.51% 16.53% 11.20% 12.82% 12.14%


Key Indicators of life business in 2016 (Millions)
  GWP          
  2015 2016 Retention Ratio Loss Ratio Acquisition Costs GA Ratio Combined 
Misr Life 2,601 2,804 96.33% 129.69% 34.98% 13.33% 183.05%
Suez Canal 278 432 77.64% 95.48% 26.93% 5.75% 130.44%
Mohandes 48 74 91.48% 170.18% 15.22% 21.26% 213.94%
Delta 157 170 58.87% 118.70% 29.93% 9.50% 174.88%
Metlife 1,188 1,404 86.11% 81.93% 16.03% 7.14% 105.36%
CIL 915 1,095 98.14% 92.38% 24.59% 5.07% 122.44%
Allianz Life  1,295 1,362 97.53% 93.07% 22.12% 6.51% 126.92%
QNB Ahli 277 318 88.07% 99.77% 31.65% 6.38% 150.88%
Chubb Life 111 139 89.24% 28.82% 53.47% 24.78% 117.91%
Egyptian Takaful 342 391 74.49% 86.69% 43.10% 7.07% 142.19%
Tokyo Marine 57 42 77.28% 45.38% 12.16% 17.52% 119.66%
Arobe 20 30 88.17% 26.54% 85.28% 31.00% 190.18%
Swiss Lebano 28 54 63.83% 93.23% 1.06% 1.67% 96.55%
Misr Emirates Takaful 0 8 79.60% 0.00% 0.00% 58.84% 136.45%
Total 7,317 8,323 91.45% 103.92% 28.01% 9.37% 145.81%
Development of written premium of P&C by LOB from 2011 till 2016      (figures in 1,000 EGP)
  2011 2012 2013 2014 2015 2016 % of total
Property 764,838 890,076 1,047,589 1,215,697 1,353,526 1,447,700 16.07%
Cargo 269,380 286,315 306,080 334,072 320,825 322,942 3.58%
Inalnd 61,335 86,350 103,696 124,146 121,860 122,961 1.36%
Hull 158,312 152,663 171,081 182,346 186,174 191,954 2.13%
Aviation 199,778 199,713 193,775 146,373 153,470 164,091 1.82%
Motor OD 479,451 529,557 573,305 727,230 745,021 2,042,298 22.67%
Motor TPL 546,486 626,540 815,928 735,889 774,695 912,325 10.13%
Engineering 608,691 640,544 697,023 783,305 820,650 870,728 9.66%
Energy 1,442,394 1,362,845 1,425,157 1,571,976 1,796,167 655,511 7.28%
Accident 618,410 729,542 884,444 791,488 663,875 890,430 9.88%
Medical 506,349 584,753 735,446 934,098 1,181,715 1,388,453 15.41%
  5,655,424 6,088,898 6,953,524 7,546,620 8,117,978 9,009,393 100.00%

Performance of P&C Business by LOBs 2016 (figures in 1000 EGP)
  GWP NWP Earned RI Others Total Incurred Acquisition Others Manag. UW  Investment Net 
      Prem. Comm.   Revenue Claims Costs   Expenses Surplus   Results
Property 1,447,700 647,928 583,260 257,355 9,223 849,838 358,285 376,100 17,590 153,330 -55,467 165,507 110,040
Cargo 322,942 216,999 217,237 45,021 5,184 267,442 82,129 79,739 2,706 62,664 40,204 54,491 94,695
Inalnd 122,961 83,642 83,861 16,538 1,899 102,298 11,118 29,983 3,178 17,324 40,695 20,617 61,312
Hull 191,954 111,620 100,428 23,825 8,365 132,618 50,190 24,335 10,664 25,634 21,795 32,134 53,929
Aviation 164,091 55,481 62,846 9,789 101 72,736 63,541 20,501 -26 17,963 -29,243 41,890 12,647
Motor OD 2,042,298 1,863,379 1,787,533 61,419 21,785 1,870,737 1,043,182 570,729 12,949 342,000 -98,123 178,627 80,504
Motor TPL 912,325 695,858 627,422 61,425 25,259 714,106 298,121 132,282 10,955 169,749 102,999 417,894 520,893
Engineering 870,728 175,271 197,305 188,050 2,082 387,437 133,921 131,504 30,201 80,482 11,329 77,708 89,037
Energy 655,511 371,907 411,109 72,107 3,215 486,431 231,614 158,208 398 49,936 46,275 89,725 136,000
Accident 890,430 572,963 521,261 106,212 26,966 654,439 184,966 246,794 21,461 129,622 71,596 218,797 290,393
Medical 1,388,453 839,053 805,360 109,740 9,825 924,925 618,554 208,489 15,368 132,867 -50,353 46,699 -3,654
Total P&C 9,009,393 5,634,101 5,397,622 951,481 113,904 6,463,007 3,075,621 1,978,664 125,444 1,181,571 101,707 1,344,089 1,445,796

Key Ratios of Performance of P&C by LOB 2016

  Retention Ratio Loss Ratio Acquisition Costs GA Ratio Combined 
Property 44.76% 61.43% 25.98% 10.59% 109.51%
Cargo 67.19% 37.81% 24.69% 19.40% 81.49%
Inalnd 68.02% 13.26% 24.38% 14.09% 51.47%
Hull 58.15% 49.98% 12.68% 13.35% 78.30%
Aviation 33.81% 101.11% 12.49% 10.95% 146.53%
Motor OD 91.24% 58.36% 27.95% 16.75% 105.49%
Motor TPL 76.27% 47.52% 14.50% 18.61% 83.58%
Engineering 20.13% 67.88% 15.10% 9.24% 94.26%
Energy 56.74% 56.34% 24.14% 7.62% 88.74%
Accident 64.35% 35.48% 27.72% 14.56% 86.26%
Medical 60.43% 76.80% 15.02% 9.57% 106.25%
Total P&C 62.54% 56.98% 21.96% 13.11% 98.12%

Performance of P&C Insurance Companies 2016

  GWP NWP Earned RI Others Total Incurred Acquisition Others Manag. UW  Investment Net Results
      Prem. Comm.   Revenue Claims Costs   Expenses Surplus    
Misr Ins. 4,353,616 3,180,749 3,134,609 340,317 25,513 3,500,439 1,808,995 1,035,413 21,567 586,343 48,121 885,610 885,610
Suez Canal. 615,345 356,349 326,175 61,281 10,163 397,619 163,372 144,882 1,627 94,262 -6,524 45,268 45,268
Mohandes Ins. 240,434 143,729 125,918 33,330 13,567 172,815 57,354 64,687 527 42,623 7,624 36,874 36,874
Delta Ins. 221,893 137,981 131,491 24,803 2,708 159,002 78,746 49,070 242 23,195 7,749 16,616 16,616
AIG 262,780 64,545 62,844 79,517 5,601 147,962 23,016 60,668 -1,603 45,987 19,894 17,945 17,945
AMIG 536,705 259,723 244,715 84,431 9,652 338,798 136,509 95,617 1,714 50,700 54,258 51,096 51,096
Egyptian Export Credit Insurance Company 3,151 1,579 1,651 683 3,701 6,035 489 0 0 2,419 3,127 3,657 3,657
Cooperative Ins. Society 86,408 38,593 29,072 15,511 5,562 50,145 19,187 950 11,354 19,512 -858 2,610 2,610
Chubb 46,166 13,714 15,704 6,771 258 22,733 5,052 9,753 -235 5,744 2,419 3,150 3,150
Royal 340,822 250,725 226,375 26,898 6,291 259,564 146,751 52,838 1,876 61,284 -3,185 58,708 58,708
Allianz 344,400 195,355 187,450 22,807 5,068 215,325 93,265 64,587 533 56,103 837 54,364 54,364
Egyptian Saudi ins. Co 205,507 169,801 170,764 11,052 3,832 185,648 105,292 51,612 573 12,905 15,266 18,903 18,903
Bupa 558,502 230,045 250,325 88,321 0 338,646 145,305 110,186 2,360 32,473 48,322 9,544 9,544
Egyptian Takaful 302,350 99,475 86,492 55,549 6,370 148,411 41,995 61,211 3,183 20,042 21,980 53,266 53,266
Wethaq 115,486 80,799 80,663 10,376 2,921 93,960 45,287 31,242 23 13,226 4,182 20,861 20,861
Arope 94,766 70,246 60,463 3,116 1,858 65,437 34,045 15,355 -625 14,204 2,458 15,581 15,581
Iskan 114,207 44,021 62,945 22,494 2,954 88,393 43,403 28,573 104 14,208 2,105 14,001 14,001
Tokyo Marine 90,117 57,823 44,050 7,664 2,274 53,988 26,531 17,883 265 14,458 -5,149 5,188 5,188
Orient Egypt 350,085 127,102 108,922 47,592 4,661 161,175 71,341 58,302 78,909 0 -47,377 32,683 32,683
AXA 86,553 81,479 38,767 8,809 58 47,634 34,281 20,899 1,304 28,370 -37,220 292 292
United 37,098 30,269 8,231 160 911 9,302 5,366 4,968 1,745 33,520 -36,297 -2,128 -2,128
Total 9,006,391 5,634,102 5,397,626 951,482 113,923 6,463,031 3,085,582 1,978,696 125,443 1,171,578 101,732 1,344,089 1,344,089


Key Indicators for P&C Companies 2016

  Retention Ratio Loss Ratio Acquisition Costs GA Ratio Combined 
Misr Ins. 73.1% 57.7% 23.8% 13.5% 98.5%
Suez Canal. 57.9% 50.1% 23.5% 15.3% 102.0%
Mohandes Ins. 59.8% 45.5% 26.9% 17.7% 93.9%
Delta Ins. 62.2% 59.9% 22.1% 10.5% 94.1%
AIG 24.6% 36.6% 23.1% 17.5% 68.3%
AMIG 48.4% 55.8% 17.8% 9.4% 77.8%
Egyptian Export Credit Insurance Company 50.1% 29.6% 0.0% 76.8% -89.4%
Cooperative Ins. Society 44.7% 66.0% 1.1% 22.6% 103.0%
Chubb 29.7% 32.2% 21.1% 12.4% 84.6%
Royal 73.6% 64.8% 15.5% 18.0% 101.4%
Allianz 56.7% 49.8% 18.8% 16.3% 99.6%
Egyptian Saudi ins. Co 82.6% 61.7% 25.1% 6.3% 91.1%
Bupa 41.2% 58.0% 19.7% 5.8% 80.7%
Egyptian Takaful 32.9% 48.6% 20.2% 6.6% 74.6%
Wethaq 70.0% 56.1% 27.1% 11.5% 94.8%
Arope 74.1% 56.3% 16.2% 15.0% 95.9%
Iskan 38.5% 69.0% 25.0% 12.4% 96.7%
Tokyo Marine 64.2% 60.2% 19.8% 16.0% 111.7%
Orient Egypt 36.3% 65.5% 16.7% 0.0% 143.5%
AXA 94.1% 88.4% 24.1% 32.8% 196.0%
United 81.6% 65.2% 13.4% 90.4% 541.0%
Total 62.6% 57.2% 22.0% 13.0% 98.1%