DUBLIN--(BUSINESS WIRE)--Research and Markets (http://www.researchandmarkets.com/research/jxnksg/reinsurance_in) has announced the addition of the "Reinsurance in Egypt, Key Trends and Opportunities to 2018" report to their offering.
Egypt's insurance industry is gradually returning to normal after the political uprising in 2011, although the recent civil unrest has compelled insurers to make substantial payments. The insurance Federation of Egypt (IFE) claims that the political violence led to losses in the Egyptian insurance industry in 2012. The political upheaval had a highly debilitating effect on the insurance industry. However, the unfavorable environment had a positive effect on the reinsurance industry, and demand for reinsurance grew during the review period at a review-period compound annual growth rate (CAGR) of 11.5%.
Key Highlights
- Reinsurance in Egypt grew during the review period: its written premium increased in 2013, at a review-period CAGR of 11.5%.
- The treaty reinsurance category accounted for 64.4% of the reinsurance premium in 2013, while the facultative reinsurance category accounted for the remaining 35.6%.
- A lack of a domestic reinsurer compels national insurers to cede around 70% of their premium to foreign reinsurers.
- In January 2014, the IFE received approvals from six insurers for its proposal to establish a national reinsurance company with an initial paid-up capital of US$200 million.
- Egyptian non-life insurers ceded the highest level to reinsurance of the three main primary insurance segments in 2013.
- On January 1, 2014, the EFSA accredited British insurance market Lloyd's as an approved foreign reinsurer in Egypt. With this approval, insurers in the country can operate smoothly with the syndicate, bypassing the cumbersome process of seeking authorization from the regulator. This will also lead to international co-operation and sharing of best practice and expertise.
Key Topics Covered:
1 Key Facts and Events
2 Executive Summary
3 Introduction
4 Egyptian Insurance Industry Attractiveness
5 Reinsurance Growth Dynamics and Challenges
6 Key Industry Trends and Drivers
7 Competitive Landscape and Strategic Insights
8 Appendix
Companies Mentioned
- African Reinsurance Corporation
- Misr Insurance Company
For more information visit http://www.researchandmarkets.com/research/jxnksg/reinsurance_in
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