Insurance Companies in Egypt: Insurance is an important financial activity for every country and its economics. It contributes to the GDP of a country by managing risks that economic resources may encounter. The premiums collected by insurance grew by 23.4% in 2018. There are 37 insurance companies registered in Egypt in 2018.
Top insurance company in Egypt
The total premium grows every year, which means there is a place for even more insurance companies on the market. When it comes to insurance it is not just about the premiums, but also about the claims that insurance pays through the year. In that segment, there has also been an increase.
From the market movements and growth, it is obvious that Egypt is a promising insurance market with great potential. The potential lies in the fact that only around 1% of the population is covered with insurance which is far below a global average of 6%.
Established in 2001, one of the insurance companies In Egypt started the business in 2002 and since then they work to protect finances. The Royal Insurance takes care of all the size of customers: large companies with big finance portfolios up to individuals that want to protect their belongings. They constantly bring innovation to their products for the highest customer satisfaction.
Bupa International Insurance
This insurance is primarily focused on health care. The policies cover private health insurance and travel insurance. The Bupa insurance is the best individual international healthcare provider award winner which means their work is recognized by a lot of people and other companies on the market. The company reinvests part of their profit to improve healthcare facilities all over the world.
The insurance works under the Allianz group that is spread all over the world, precisely in 70 countries. They offer life, car, property and health insurance for individuals, and corporate solutions. The company works in Egypt since 2002 and they improve their services continuously. To provide only the best insurance policies they continuously educate and train their employees.
Arab Misr Insurance Group
The independent agents employed by the group; take care of the policies their customers need. Their reinsurance is one of the finest in the market. They educate their staff well so they can take good care of the customer’s needs considering the insurance. They have two main departments-risk management and business development.
They provide different insurance solutions for their clients according to wishes and needs. They operate in 54 countries. The protection of human health, property, and industry is their main goal. Chubb is among the leaders in risk engineering services. They provide the finest service and their experts are always there for the customers.
Wethaq Takaful Insurance Egypt
The insurance company provides a wide range of policies. The property, marine, motor insurance is just a part of the whole palette. There are also general accidents and liability insurance as well as travel, engineering, and medical insurance. This is another one of the insurance companies in Egypt that customers can feel safe to put trust in and have the finest policy.
Deraya Insurance Brokerage
The company works with international and national insurance providers, offering them from one place to a customer. They have a well educated and experienced sales team that will provide the best solution for every inquiry. They work with families, corporations and individuals.
One of the insurance companies In Egypt, Nextcare company was established in 1999 and by now specialized in health insurance. They are partners with Allianz Egypt which says something about the Nextcare quality. They create custom designed policies according to the client’s needs. There is a high-quality and efficient 24/7 multilingual call center for the customers.
Lockton Insurance Brokers
They claim to be the largest private and independent insurance broker house in the world. With over 7500 brokers they cover a huge amount of the market-52000 clients. Lockton tends to be an insurance brokerage leader. Their clients come from over 125 countries which includes Egypt.
The company was established in 2012 as a leading healthcare company in Egypt. They provide insurance for companies. The GlobeMEd is supported by the GlobeMed group which has 27 years’ experience in the health field. This is one of the fastest-growing groups in the region with over 120000 providers all around the world.