Inclusive insurance and risk financing in Egypt. Snapshot and way forward 2023

Inclusive insurance and risk financing in Egypt. Snapshot and way forward 2023

December 05, 2023

This report presents the main findings of UNDP’s inclusive insurance and risk finance country diagnostic for Egypt. It sets out key risks, the current inclusive insurance and disaster risk finance landscape, and recommendations to advance inclusive insurance, risk finance and development.

Egypt’s main hazards include floods, storms, drought, extreme heat and rising sea levels. Inclusive insurance centres on microinsurance, and an insurance law with provisions for microinsurance has been drafted. Disaster response is funded by budget reallocations, aid and post-disaster borrowing. A disaster risk financing strategy has yet to be developed.

Recommendations include strengthening the enabling environment for insurance; developing agricultural insurance; and creating a disaster risk finance strategy.