Using a multiple linear regression model, this study examines the link between the Egyptian insurance market and economic development from 2000/2001 to 2020/2021. The analysis comprises Egypt's 25 non-life insurance businesses and 16 life insurance companies. Insurance receivables are assessed by life investment, non-life investment, life premiums, and non-life premiums. Egyptian economic growth (GDP) is the dependent variable. The findings indicate that non-life investments and life premiums have a statistically significant positive association with GDP, but life investments and non-life premiums do not. The regression model accounts for 99.8% of GDP fluctuations, demonstrating a strong link between the dependent and independent variables. These findings imply that the Egyptian insurance market has a substantial influence on the country's economic growth. The recommendations are that the government should develop measures that guarantee the enforcement of more insurance policies and promote the benefits of such policies to people. Additionally, the government administration should take procedures that might improve insurance investment returns to support the insurance sector's role in economic development.