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Non - Banking Financial
Markets

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Insurance is one of the most important non-banking financial activities. It is a key contributor to the country’s gross domestic product (GDP) in view of integrating with the rest of economic sectors and contributing to managing risks that economic assets may expose. In this respect, insurance is deemed one of major instruments for the stability and continuity of the rest of non-banking financial sectors. The Financial Regulatory Authority (FRA) has been keen on boosting the insurance sector’s role and increasing its contribution to GDP by streamlining its legislative framework. It is worth mentioning that the insurance sector’s contribution to GDP reached 0.1% on 30/6/2019 compared to 0.91% on 30/6/2018.


During 2019, insurance premiums grew by 19% compared to last year. The number of companies operating in Egypt’s insurance sector was 39 companies. Total premiums amounted to 35.2 billion pounds by the end of June 2019 versus 29.4 billion pounds in 2018. On the other hand, companies paid total claims worth 18.3 billion pounds on 30/6/ 2019 compared to 15.4 billion pounds on 30/6/2019.

The surplus of insurance companies increased  by 29% to reach  4.7 billion pounds last year which achieved a surplus of activity amounting to 3.7 billion pounds. Insurance companies’ activities have improved during the past four years, where the surplus of the insurance activity amounted to 4.7 billion pounds in 30/6/2019 compared to two billion pounds on 30/6/2015. These figures resulted in attracting new investments to the insurance market and establishing new companies.

By the end of June 2019, net investments of insurance companies amounted to 102 billion pounds, with a 2.7% growth, compared to 99 billion pounds a year ago.

While the total rights of policyholders, which represent the obligations of insurance companies towards their customers, reached 69 billion pounds in 30/6/2019, compared to 61 billion pounds in 30/6/2018, with a growth rate of 12.8%. On the other hands, the rights of shareholders in insurance companies amounted to 35 billion pounds in 6/30/2019, achieving a decrease by 7.8% compared to the rights of shareholders amounted by 38 billion pounds on 30/6/2018.