Egypt Insurance Report - Business Monitor International - Industry Reports

Egypt Insurance Report

Egypt Insurance Report - Business Monitor International - Industry Reports
Egypt Insurance Report
Published Sep 24, 2016
53 pages — Published Sep 24, 2016
Price US$ 1,295.00  |  Buy this Report Now

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Abstract:

We expect life premiums to contract by -.- in USD terms to USD-.-bn in ---- due to the ongoing currency volatility of the Egyptian pound. Growth over the medium-term should be driven by initiatives by life insurers to sell additional products to existing clients, as well as the gradual expansion of the first time consumer market. ...This is consistent with mid-single-digit growth in premiums through the forecast period in US dollar terms. Demand from existing users of life insurance is expected to grow slowly, and while microinsurance and takaful present growth opportunities, we do not yet see evidence that sales of microinsurance products to new users will have a significant impact between now and ----. In local currency terms, the expansion of premiums should be significantly faster, at --.- to EGP-.-bn in ----. ...Demand from existing users of life insurance is expected to grow slowly, and while microinsurance and takaful present growth opportunities, we do not yet see evidence that sales of microinsurance products to new users will have a significant impact between now and ----.

...The non-life insurance market is dominated by motor vehicle and property insurance. The life insurance sector in particular has found itself limited by the low income levels and a lack of awareness of what these products can offer. ...The life insurance sector in particular has found itself limited by the low income levels and a lack of awareness of what these products can offer. Microinsurance, a potential solution to the issue of low disposable income, is a little- explored avenue for insurers in both the life and non-life sectors. Low life expectancies also limit the demand for insurance as a savings and investments product. ...Recent political and economic uncertainty continues to undermine consumer spending and demand for non-essentials such as personal accident insurance. Some sectors of insurance regulation remain outdated, including rules governing mergers and acquisitions.

...Although Egypt s life insurance market is underdeveloped, with low rates of penetration and density (thanks to the strong market positions of leading multi-national insurers), there is innovation in terms of product features and distribution arrangements which will support sustainable long-term growth. Life insurance is valued among those Egyptian households which can afford it, and as household incomes rise we expect to see steady growth in demand for various life products. ...

  
Source:
Document ID
1752-7996
Country
Industry
Format:
PDF Adobe Acrobat
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Business Monitor International - Industry Reports—Established in 1984, Business Monitor International is a leading online publisher of specialist business information on global emerging markets. Business Monitor's range of quarterly services covers political risk, finance, macroeconomic performance, outlook and forecast, industry sectors and the business operating environment. Each Industry Report has been researched at source, and features latest-available data covering production, sales, imports and exports; 5-year industry forecasts through end-2012; company rankings and competitive landscapes for multinational and local manufacturers and suppliers; and analysis of latest industry developments, trends and regulatory changes.

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MLA:
Business Monitor International - Industry Reports. "Egypt Insurance Report" Sep 24, 2016. Alacra Store. Dec 11, 2016. <http://www.alacrastore.com/storecontent/Business-Monitor-International-Industry-Reports/Egypt-Insurance-Report-2026-2611>
  
APA:
Business Monitor International - Industry Reports. (2016). Egypt Insurance Report Sep 24, 2016. New York, NY: Alacra Store. Retrieved Dec 11, 2016 from <http://www.alacrastore.com/storecontent/Business-Monitor-International-Industry-Reports/Egypt-Insurance-Report-2026-2611>
  
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