Boston, MA -- (SBWIRE) -- 09/02/2014 -- Overall, we anticipate that Egypt's insurance sector will enjoy steady growth over the forecast period. It should benefit from a period of stability, following political and economic volatility over the last few years. Challenges will continue to hinder the sector, particularly the non- life segment, as the central government attempts to reduce subsidies and high levels of debt. Moreover, we see little evidence of consolidation among non-life insurers, who will continue to achieve sub-prime profit due to extensive use of outwards re-insurance. Nevertheless, the market has shown itself to be remarkably resilient. In light of this, and regulatory changes, we may revise our forecasts upwards in the near future.

As of late-2014 premiums have recorded steady growth, despite continuing political instability. The Egyptian Financial Supervisory Agency (EFSA), the regulator of the non-bank financial sector, as well as other government ministries and agencies, have made a number of positive changes to the laws and regulations governing the insurance sector. EFSA remains committed to boosting the public's usage of and understanding of insurance. We anticipate that the lifting of the ban on bancassurance, the distribution of insurance products via banks, could give the market a significant boost. This is particularly relevant to smaller insurers, who lack alternative means of distribution.

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Overall growth should be driven by the country's wider economic performance and the potential for greater political stability. As such we do not anticipate the insurance sector to establish a greater share of GDP, with little evidence of an alteration in the market's overall competitive landscape. Takaful insurance remains at an embryonic stage of development; however, it has the potential to be a source of significant growth. In part, this is due to the fact that it comes off a low base, commanding only a fraction of the market. However, takaful insurers have also...

The Egypt Insurance Report has been researched at source and features Business Monitor International (BMI)'s independent assessment and forecasts for the insurance sector. It examines industry developments, key growth drivers and risk management projections, including the macroeconomic situation, government policy, regulatory environment and the level of development and potential for growth, broken down by line. Leading insurers are profiled, covering premiums, products and services and competitive positioning.

BMI's Egypt Insurance Report provides professionals, consultancies, government departments, regulatory bodies and researchers with independent forecasts and regional competitive intelligence on the Egyptian insurance industry.

Key Benefits:

- Benchmark BMI's independent insurance industry forecasts for Egypt to test other views - a key input for successful budgeting and strategic business planning in Egypt's insurance market.

- Target business opportunities and risks in Egypt through our reviews of latest industry trends, regulatory changes and major deals, investments and macroeconomic developments.

- Exploit latest competitive intelligence on your competitors, partners and clients via our Company Profiles (inc. SWOTs, KPIs and latest activity).

Coverage:

BMI Industry View:

Summary of BMI's key industry forecasts and views, covering the Life and Non-Life segments, the evolving competitive landscape and business operational risks.

Industry SWOT Analysis:

Analysis of the major Strengths, Weaknesses, Opportunities and Threats within the insurance sector and within the broader political, economic and business environment.

Regional Outlook:

Individual analysis of both Life and Non-Life insurance sector developments and prospects across developed states and emerging markets - supported by BMI's global industry growth forecasts. This is followed by an in-depth evaluation of region- and country-specific trends, focusing on BMI's country-by-country market growth data.

Business Environment Rankings:

BMI's Insurance Business Environment Rankings provide a country-comparative Risk-Reward Rankings index aimed at investors (Life and Non-Life) in the insurance market.

The rankings methodology makes sophisticated use of over 40 industry, economic and demographic data points and is part of BMI's integrated Country Risk-Industry Rankings products.

BMI Industry Forecasts:

Historic data series (2008-2012) and forecasts to end-2018 for key industry and economic indicators (see list below) supported by explicit assumptions, plus analysis of key risks to the main forecasts. Indicators include:

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