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June 21, 2022updated 28 Jun 2022 12:09pm

The five leading general insurance companies in Egypt in 2021

By Carmen

The Egypt general insurance market witnessed an increase at a compound annual growth rate (CAGR) of 4.2% from $0.7bn in 2016 to $0.9bn in 2021.

As per the data, the leading companies occupied 64.5% of Egypt’s total general insurance market.

1. Misr Insurance

Misr Insurance ranked number one in the country, reporting a growth of 12.6% compared with the previous year’s premium. Its position among the leading general insurance companies remained unchanged over its ranking in the previous year.

2. AXA Egypt Insurance

Ranking number two in Egypt’s general insurance market was AXA Egypt Insurance. The company registered a 5.8% decline compared with the premium in 2020. Among the leading general insurance companies, its position remained unchanged when compared with its previous years ranking.

3. Allianz Insurance – Egypt

Allianz Insurance – Egypt ranked number three in Egypt’s general insurance market. Compared with previous year’s premium, the company registered a growth 7.9%. Its position among the leading general insurance companies remained unchanged over its ranking in the previous year.

4. Arab Misr Insurance Group gig

Arab Misr Insurance Group gig, which ranked number four in Egypt’s general insurance market, registered a 33.7% growth compared with last year’s premium. Its ranking among the leading general insurance companies in the previous year was seven, which now improved to number four.

5. Egyptian Takaful Insurance Property

Egyptian Takaful Insurance Property ranked number five in Egypt’s general insurance market. The company registered a decline of 8.2% compared with last year’s premium. From number four position in the previous year, the company’s ranking among the leading general insurance slipped to number five.

Methodology

This analysis is drawn from GlobalData’s Company LoB Breakdowns Database, which tracks key insurance metrics across segments, categories, and line of businesses for more than 150 markets, globally. The data is sourced from regulatory authority/industry association/company SFCR. This data is mapped to segments and categories as per our standard Industry Native Taxonomy Structure. The calculations are based on premiums standardised by the following order of preference Gross Written Premiums > Direct Written Premiums > Net Earned Premiums > Net Written Premiums. Verdict’s parent company GlobalData provides business information to 4,000 of the world’s largest companies.

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