MOODY’S INVESTOR SERVICE says Egypt’s insurance market “should see strong premium and profit growth in the next 12-18 months, aided by the country’s gradual economic recovery,” says Mohammed Ali Londe, an assistant VP at the rating’s agency. “The market may be small but is one of the fastest growing in the world with plenty of untapped potential … Absent any political or economic upheaval, we expect the market to expand in double digit figures, helping to cement improving profitability post-revolution.” Moody’s also sees the sector benefiting from draft legislation on healthcare and supervision and the expansion in large infrastructure projects, “both from providing direct insurance cover and because any resulting job creation will support the expansion of the commercial and personal lines of business.” Among the challenges in the sector, according to Moody’s: market concentration.

Moody’s roundtable in Cairo: The ratings agency held a briefing for select members of the press yesterday in Cairo, the highlight of which was the opportunity to hear directly from Moody’s Investors Service VP and Senior Credit Officer Steffen Dyck. Dyck likes the IMF pact (he expects the facility to get signoff from the international body within the next two weeks), doesn’t see the budget deficit in the single digits before 2020, and expects the EGP to close the year at 10.50-11.00 to the greenback. He’s also more concerned with fiscal challenges than FX policy. Tap here for our full readout on the meeting.