The Insurers Federation of Egypt (IFE) has announced its commitment to positioning Egypt as a leading international hub for the insurance industry in Africa. This initiative forms part of a broader national strategy aimed at attracting long-term investments and strengthening Egypt's role on the global insurance landscape.
On the IFE’s agenda for the period 2025-2029 is a development plan for the continent’s insurance sector, including the establishment of an insurance innovation lab, the launch of joint educational platforms and the rollout of insurance training programmes in Africa.
In its weekly newsletter released on 19 October, the IFE said that the future of insurance in Africa lies in a shared vision rooted in integration and innovation. It also highlighted the importance of developing insurance legislation and regulatory frameworks, improving the business environment, building technical capabilities in risk management and pricing, promoting digital transformation and linking African databases, and expanding insurance inclusiveness to youth, women and farmers.
The bulletin indicated that the African Insurance Organisation (AIO) in 2026 believes that the next five years will be crucial in transforming insurance from a traditional financial activity into a strategic tool for financing development and building resilience in the face of crises.
Despite the weak technological infrastructure in some African countries, recent years have witnessed a significant digital leap, particularly in East and West Africa. This has been accompanied by the expanding use of mobile phones and digital platforms in marketing and document management. This has contributed to insurance companies reaching segments of the population that were not previously covered by insurance, particularly in rural areas and informal economies.
The IFE said that Egypt is one of the top five insurance markets in Africa in terms of written premiums, with a strong regulatory framework and extensive experience in risk management. In recent years, the Egyptian market has witnessed a boom in digital transformation and an expansion of coverage to informal workers and small and medium-sized enterprises.