Egypt: GWP up by 26% in first ten months of 2024

Source: Middle East Insurance Review | Feb 2025

The insurance market in Egypt achieved notable growth in terms of premium income in the first 10 months of the past year, mainly driven by the rise in property and liability operations.

The market GWP in Egypt reached EGP77.1bn ($1.52bn) in the first 10 months of 2024 against EGP61.3bn generated in the corresponding period of the previous year, an increase of almost 26%, according to the recently published Financial Regulatory Authority monthly report.

Property and liability insurance activities amounted to EGP42.9bn between January and October of the past year from EGP30.86bn in the same period of 2023, achieving 39% growth rate.

Life and pension lines of business’ premiums reached EGP34.2bn against EGP30.4bn, a 12.2% increase.

Paid claims for the same period increased by 27% to EGP35.6bn from EGP28bn. Property and liability paid claims rose by 35.2% to EGP16.9bn while life and pensions lines’ paid claim registered an increase of 20.5% to EGP18.7bn. M

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