Country Dashboards

103 mn
US$403 bn
Inflation rate

Insurance Premiums

Total Premiums
Insurance market data
Life premium volume (USD) 642 mn
Non-life premium volume (USD) 921 mn
Total premium volume 2 bn
Total premium volume (EGP) 9 bn
Insurance penetration: Premiums in % of GDP 0.68%
Insurance density: Premium / capita USD 19.9
Local currency EGP
Market Composition
Domestic life insurers 16
Domestic non-life insurers 25
Domestic composite insurers 0
Foreign life insurers 0
Foreign non-life insurers 0
Foreign composite insurers 0
Domestic reinsurers 2
Foreign reinsurers 0
State-owned insurers 3
State-owned reinsurers 0
Insurance intermediaries 85
Reinsurance intermediaries 9
Insurance Regulatory Authority
Smart village, building 136, Giza

Regulatory Provisions

Scope of insurance regulation and supervision
Overarching principle in insurance supervision Financial supervision
Requirement for minimum insurance rates No
Cross-border insurance allowed Yes
Bancassurance is allowed Yes
Allowed ownership structures Stock Companies, Mutuals
Foreign ownership restrictions No
Minimum capital requirement EGP 150 million
Minimum paid-up share capital EGP 75 million
Requirement for independent audits Yes
Requirement to appoint actuaries No
Premium rate approval needed No
On-Going Supervision
Solvency referred to as the difference between assets and liabilities Yes
RBC (Risk-based capital) principles applied No
Ceded reinsurance is regarded as a permissible asset Yes
Compulsory insurance lines Motor TPL, Travel insurance, some liability lines P&I.
Compulsory reinsurance cessions Yes
Insurance companies in difficulties
Established guarantee or policyholder protection fund Yes
The Africa Re office that supports this location is: