Insurance

According to the Egyptian Financial Supervisory Authority (EFSA),
insurance penetration in Egypt remains low, with gross premiums of E£14.4
billion (US$2 billion) in the year ending in June 2014 (approximately 0.72
percent of GDP).
Premium income has increased gradually in recent years; however, the market has failed to grow as a percentage of the overall economy. The sector has been able to absorb losses from the constant civil unrest that has swept the country since early 2011, irrespective of the market growth in premiums.
EFSA has been regulating Egypt’s Insurance market since 2009 when it
took over the Egyptian Insurance Supervisory Authority. The Insurance sector is open to foreign investors. There were 32 insurers operating in Egypt, as of June 2014, of which 12 were in the Life sector, 18 in the Non-life sector, one
co-operative and one company specializing in reinsurance. Out of the
organizations, three are state-owned companies and 29 are private. In addition, there are 18 companies that are partly foreign owned, and eight companies issue Shari-compliant tactful insurance.
Most of Insurance sector investments comprise bank deposits (25.3
percent of the total), government securities (23 percent) and non-government securities (22 percent). Furthermore, in 2013/2014, investments in nongovernment securities increased by 24 percent.