Life premium volume (USD) | 642 mn |
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Non-life premium volume (USD) | 921 mn |
Total premium volume | 2 bn |
Total premium volume (EGP) | 9 bn |
Insurance penetration: Premiums in % of GDP | 0.68% |
Insurance density: Premium / capita USD | 19.9 |
Local currency | EGP |
Domestic life insurers | 16 |
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Domestic non-life insurers | 25 |
Domestic composite insurers | 0 |
Foreign life insurers | 0 |
Foreign non-life insurers | 0 |
Foreign composite insurers | 0 |
Domestic reinsurers | 2 |
Foreign reinsurers | 0 |
State-owned insurers | 3 |
State-owned reinsurers | 0 |
Insurance intermediaries | 85 |
Reinsurance intermediaries | 9 |
Overarching principle in insurance supervision | Financial supervision |
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Requirement for minimum insurance rates | No |
Cross-border insurance allowed | Yes |
Bancassurance is allowed | Yes |
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Allowed ownership structures | Stock Companies, Mutuals |
Foreign ownership restrictions | No |
Minimum capital requirement | EGP 150 million |
Minimum paid-up share capital | EGP 75 million |
Requirement for independent audits | Yes |
Requirement to appoint actuaries | No |
Premium rate approval needed | No |
Solvency referred to as the difference between assets and liabilities | Yes |
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RBC (Risk-based capital) principles applied | No |
Ceded reinsurance is regarded as a permissible asset | Yes |
Compulsory insurance lines | Motor TPL, Travel insurance, some liability lines P&I. |
Compulsory reinsurance cessions | Yes |
Established guarantee or policyholder protection fund | Yes |
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