Insurance

The Egyptian insurance industry, one of the oldest in the region, has shown a welcome degree of resilience in recent years. Despite its long history, however, the market remains at a relatively nascent stage of growth compared to those in more advanced economies, characterised by a low penetration rate and modest insurance density. While this means that growth opportunities abound, questions remain as to how they will be achieved. Despite these obstacles, there is significant potential for development in Egypt’s insurance industry. Oil importing economies in the MENA region, such as Egypt, are likely to see premiums grow in excess of GDP growth where governments are able to maintain their determined development plans.

This chapter contains an interview with Corneille Karekezi, Group CEO, Africa Re.