The Egyptian insurance industry is characterised by considerable competition on price, low market penetration and the continued dominance of the state-backed Misr Insurance. Total insurance premiums, including inward reinsurance and direct written premiums, rose to $1.57bn in 2011/12, an 8.7% increase over the previous year. Total investment by insurance firms amounted to $5.5bn in 2011/12, up 9....
Egypt Financial Services
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Chapter | Capital Markets from The Report: Egypt 2013
Since the start of the nation’s political transition in 2011, Egypt’s capital markets have faced a number of challenges. Nevertheless, 2012 saw Egypt’s exchange recover the ground it lost in 2011, growing by 51% year-on-year to become one of the fastest expanding in the world. Its path to recovery has been a volatile one, which has demonstrated the influence of political events on market...
The wealth of the Nile River and its fertile banks and delta, together with Egypt’s location at the confluence of Africa, Asia and Europe, have made the country a valuable prize for centuries, as well as a centre of trade and ideas.
The 2011 revolution had an impact on Egypt’s sizable banking sector but was not nearly as dramatic as was expected, thanks to a steady stream of reforms since 2004 that have improved the overall health and transparency of the country’s financial institutions. High exposure to sovereign debt weakened the outlook for some banks, and profitability took a hit, but overall liquidity remains high,...
Insurance penetration is comparatively limited and is estimated to range between 0.7% and 1.2%. The sector has a combined total of 29 firms in life and non-life, with an asset base of roughly $6.71bn. Non-life policies have shown steady growth in recent years, rising from $870m in the 2009/10 fiscal year to $954m in the 2010/11 fiscal year. Motor insurance is compulsory and represents the...
Chapter | Capital Markets from The Report: Egypt 2012
Egypt has a vibrant capital market, with 212 listed companies on the Egyptian Exchange, alongside a primary and secondary bond market with 60 listed bonds, and a dedicated small-cap market for small and medium-sized enterprises, the Nilex, with 20 listings. Four indices track the performance of the domestic market, but the political unrest of 2011 led to declines in all of them by the end of the...