Egypt

Axco provides details on the life insurance sector including Egyptian market participants, reinsurance and distribution channels. The reports describe classes of business from both individual and group life such as whole life, endowment, term life and unit-linked.
Information on non-life classes for example critical illness and private medical insurance.

The report describes the public and private healthcare system in Egypt, the scope of cover, accessibility financing and provides an analysis of how the public and private systems complement each other.

Axco reports on the three pillars of Egypt pension provision.

• State pension benefits including benefit calculations and eligibility criteria 
• Workplace pension provision; types of schemes calculations eligibility and; tax implications
• Voluntary individual pension provision, type of products and tax implications

The Egypt report provides an in-depth analysis of the regulatory framework governing social security as well as details on financing and eligibility. Information includes but is not limited to

• state pensions,
• permanent disability benefit
• occupational accident and disease
• maternity and paternity payments 

Egypt remains a country of considerable long-term potential as a developing life insurance market with a rapidly growing population, estimated to have reached 102.94 million people in 2020.

Real GDP growth was 5.31% in 2018, 5.56% in 2019 with forecast growth of 2.57% in 2020 and a negative -8.34% in 2021. Inflation in 2018 was 14.4% and 9.18% in 2019, with forecasts of ....

Egypt has a private pension market comprising insured and non-insured alternatives in the group market, and insured choices in the individual market. Insured pensions are understood to account for approximately half the market; however, overall penetration is low as is awareness and understanding.

Insured private pensions are governed under Law No 10 of 1981 (Law on Insurance Supervision and Control in Egypt (as amended).

There are also over 600 non-insured private pension funds, ....

An overstretched and under-resourced public health system has long provided a significant opportunity for the expansion of private sector PMI. PA and PMI business accounted for some 9.31% of total market all lines of business gross premium income in 2019.

National health system reform has been and still is a policy priority for the Egyptian government. Law No 2 of 2018 promulgating the Law on the Comprehensive Health Insurance Scheme enacted measures governing the reformed social health insurance scheme ....