Egypt Financial Services

When political turmoil hit in early 2011, the insurance sector was in a transitional state. Several reforms were in various stages of implementation, including overhauls to state medical and pension plans that could have a profound impact on insurers. For the long term, however, the sector remains rich in potential, thanks to a combination of...

The government of Egypt started negotiations with the IMF more than a year ago during Samir Radwan’s term as Minister of Finance. The negotiations continued under his successors, halting and restarting, because of disturbances in politics and national security. In addition, leadership in the Egyptian administration was not fully convinced of the...

The sector was in a significant transitional phase in mid-2012, with overhauls to the national pension and health plans proposed but not in place. With insurers expecting a resumption of legislative progress later in the year, the focus could return to what can be done to boost the insurance penetration rate. With microinsurance on the rise...

The decline in value of the Egyptian Exchange (EGX) during 2011, which saw the EGX 30 index drop from 5628 on the June 15, 2011 to reach a low of 3622 on December 29 of that year, led to subdued expectations regarding its potential performance in 2012. The new year, however, started with an unanticipated rally, which peaked in early March 2012 with...