Egyptian Insurance Market Review of 2006

 

Gross Premium: -

                                                                                       Back    (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

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

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%

 


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