InsureEgypt - Egypt Insurance Market Review

Egyptian Insurance Market Review of 2006

Gross Premium: -

(000)

2000

2001

2002

2003

2004

2005

2006

% of increase

% of total premium in 2006

Life insurance

Non-life insurance

619.5

1394.9

664.8

1431.3

720.5

1,563

939.4

1,945

1,338

2,464

1,521

2,767

1,787

2,803

17.5%

1.3%

38.93%

61.07%

Total

2014.4

2096.1

2,283

2,884.4

3,802

4,289

4,590

7.0%

100.00%

Key figures of life business in 2006

	Written Premium			Acquisition Costs %	Management Expenses %
	2005	2006		Acquisition Costs %	Management Expenses %
Misr Ins.	401,752		423,510	45.12%	6.59%
Al Chark	356,116		391,482	59.45%	11.32%
National	117,529		114,315	39.22%	9.61%
Suez Canal	22,692		25,205	221.01%	12.83%
Mohandes	49,378		48,253	285.88%	11.09%
Delta	32,775		42,681	74.74%	8.99%
Alico	158,551		211,787	119.47%	9.54%
CIL	244,153		310,935	5.70%	5.50%
Allianz Life	122,027		192,685	39.75%	15.68%
NSGB- Life	11,501		24,950	18.46%	23.49%
Ace Life	753		2001	69.13%	437.53%

Total	1,521,731		1,787,804	37.55%	9.92%

Note: Acquisition Costs Ratio = Acquisition Costs ÷New Business premium.

Key Figures of Insurance Companies for Non Life Business in 2006

	Written Premium	Market	Retained	Underwriting	Investments	Net
	Written Premium	Share	Premium	Results	Returns	Results
Misr Ins.	1,373,138	48.98%	527,240	-578,314	789,756	211,442
AlChark Ins.	486,170	17.34%	227,968	-199,431	301,405	101,974
National Ins.	204,267	7.29%	158,099	-193,873	82,815	-111,058
Suez Canal.	158,939	5.67%	79,002	4,075	14,825	18,900
Mohandes Ins.	71,368	2.55%	35,475	2,257	15,370	17,627
Delta Ins.	95,276	3.40%	49,788	1,143	8,313	9,456
AIG	116,670	4.16%	64,675	-169	4,626	4,457
AMIG	75,506	2.69%	45,790	-240	4,357	4,117
Cooperative Ins. Society	61,117	2.18%	19,462	-2,101	2,101	0
Egyptian Export Credit Insurance Company	2,231	0.08%	446	695	242	937
Allianz	91,643	3.27%	28,129	-2,455	3,052	597
Ace ACIIC	22,376	0.80%	4,310	466	645	1111
Royal & Sun Alliance	26,567	0.95%	11,978	-2,464	1362	-1102
Egyptian Saudi ins. Co	18,132	0.65%	10,027	-1,375	316	-1,059
Pupa	99		50			3

total	2,803,499	100%	1,262,439	-971,786	1,229,185	257,402

Combined Key Figures of Insurance Companies for Life and Non Life in 2006

(000)

	Written Premium	Market Share	Shareholders Funds	No of Employees
Misr Ins.	1,796,648	39.13%	1,432,142	4,172
AlChark Ins.	877,652	19.12%	682,239	4,918
National Ins.	318,582	6.94%	393,418	1,860
Suez Canal.	184,144	4.01%	93,818	821
Mohandes Ins.	119,621	2.61%	130,722	517
Delta Ins.	137,957	3.00%	144,429	479
AIG	116,670	2.54%	45,432	165
AMIG	75,506	1.64%	53,904	245
Alico	211,787	4.61%	65,863	310
Cooperative Ins. Society	61,117	1.33%	15,180	173
CIL	310,935	6.77%	34,023	165
Egyptian Export Credit Insurance Company	2,231	0.05%	37,410	26
Allianz	91,643	2.00%	35,079	160
Allianz Life	192,685	4.20%	44,792	401
Ace	22,376	0.49%	48,370	18
Royal & Sun Alliance	26,567	0.58%	38,202	37
Egyptian Saudi ins. Co	18,132	0.39%	28,718	87
NSGB life	24,950	0.54%	18,361	34
Ace Life	2,001	0.04%	22,528	31
Pupa - Egypt	99	0.002%	18,010
	4,591,303	100.00%	3,382,640	14,619

Development of written premium of non life from 1999 till 2006

(000)

	2000	2001	2002	2003	2004	2005	2006	% of total premium

Fire	276,044	277,382	262,683	319,902	304,057	342,873	377,213	13.46%
Cargo	86,532	87,162	102,251	123,521	159,088	160,414	178,572	6.37%
Inland	12,022	12,441	13,254	18,542	25,736	32,724	33,192	1.18%
Marine Hull	51,371	48,987	55,866	59,125	72,849	91,023	92,819	3.31%
Aviation	77,496	132,409	11,849	257,639	424,978	536,842	261,248	9.32%
Accident	184,793	184,396	229,284	247,178	271,031	312,224	344,080	12.27%
Engineering	111,542	106,851	117,125	161,778	355,724	275,223	293,977	10.49%
Motor Act	124,604	128,132	129,552	136,763	145,993	138,236	144,208	5.14%
Motor Compreh.	373,612	350,632	335,070	353,837	381,165	438,228	504,224	17.99%
Oil	63,594	65,619	97,855	224,659	276,868	371,736	439,238	15.67%
Medical	33,304	37,299	38,437	42,069	46,722	67,539	134,728	4.81%
	1,394,914	1,431,310	1,393,226	1,945,013	2,464,211	2,767,062	2,803,499	100.00%

Development of Losses of non life from 1998 till 2005

(000)

	99	2000	2001	2002	2003	2004	2005	2006

Fire	95,147	83,046	63,472	75,437	74,036	99,739	87,966	251,247
Cargo	27,098	33,877	34,630	38,974	39,204	59,568	62,569	37,877
Inland	3,829	4,043	4,541	5,325	4,126	3,174	24,100	3,828
Marine Hull	32,202	76,410	34,015	33,279	44,100	56,087	32,849	65,788
Aviation	14,812	290,784	149,384	634,087	450,949	64,509	48,847	49,309
Accident	18,733	18,793	21,645	31,367	35,508	34,113	61,326	48,894
Engineering	68,641	52,069	41,347	42,611	48,721	42,156	40,242	43,237
Motor Act	137,467	149,969	185,291	213,408	298,116	347,925	404,078	418,846
Motor Compreh.	207,980	225,025	234,020	212,666	210,976	236,215	269,990	299,988
Oil	39,102	17,885	15,566	29,714	28,960	51,243	538,933	956,159
Medical	27,181	32,979	32,103	35,881	37,163	45,640	54,903	103,425
	672,192	984,880	816,017	1,352,749	1,271,859	1,040,369	1,625,803	2,278,598

Development of loss ratio of non life from 1998 till 2005

	98	99	2000	2001	2002	2003	2004	2005	2006

Fire	64.8%	17.4%	38.3%	32.3%	24.4%	27.3%	40.3%	26.7%	6%
Cargo	25.8%	57.1%	35.6%	45.3%	42.8%	101.2%	22.7%	(31.2%)	6.9%
Inland	32.9%	33.6%	44.3%	78.8%	6.8%	2.8%	15.2%	36.7%	183.7%
Marine Hull	68.6%	92.5%	104.6%	84.9%	100.7%	146.5%	(70.7)%	3.7%	8.9%
Aviation	0.0%	0.0%	1840%	3.7%	338.5%	62.2%	(31.8)%	11.3%	(8%)
Accident	12.3%	42.4%	25%	24%	29.5%	27.3%	17.3%	31.4%	67.8%
Engineering	103.8%	0.0%	14.6%	61%	26.8%	128.1%	86.1%	23.9%	703.6%
Motor Act	80.7%	118.4%	102%	93.7%	193.9%	253.6%	273.6%	381.2%	40.1%
Motor Compreh.	52.2%	57.6%	62.5%	59.2%	61.9%	59.9%	69.6%	63.8%	16.5%
Oil	0.0%	0.0%	70.2%	62.8%	34.7%	46.4%	10.6%	344.5%	28.1%
Medical	90.4%	97%	111.7%	91%	98.3%	91.8%	112.5%	107.9%	99.6%
Total	42.2%	36.9%	141%	49.4%	86.5%	74.5%	78.0%	93.4%	121%