The biggest challenge in Egypt's life insurance market is the low penetration rate, which stands at less than 1%, participants at a workshop on life insurance and reinsurance have learnt.
The Financial Regulatory Authority (FRA) has issued a Decision setting out professional rules and standards governing the registration and practice of insurance and reinsurance brokerage activities.
The Insurers Federation of Egypt (IFE) has said that traditional actuarial models are no longer sufficient in light of accelerating geopolitical changes. It has become necessary to introduce additional premiums under the "geopolitical risk" clause and reduce coverage in conflict zones.
The Financial Regulatory Authority (FRA) is extending the grace period for insurers to adhere to the Unified Insurance Law by a year, starting on 11 July.
The Egyptian insurance industry is monitoring the escalation of the ongoing war in the Middle East between Israel and Iran and its impact on insurance coverage, premium rates and compensation costs.
Morocco's Wafa Assurance has filed a draft announcement of a mandatory tender offer (MTO) for Delta Insurance Company shares, according to a statement issued by the Financial Regulatory Authority (FRA) on the Egyptian Exchange on 11 June.
The chairman of the Financial Regulatory Authority (FRA), Dr Mohamed Farid, has stressed the critical need to build and develop comprehensive climate risk databases.
The Minister of Investment and Foreign Trade, Hassan El Khatib, has approved the appointment of Mr Amr El Kady as the non-executive chairman of the board of directors of Misr Insurance Holding Company (MIHC).
The Egyptian insurance sector's GWP reached EPG30.4bn ($611m) in the first quarter of 2025, up from EGP22bn in the corresponding quarter in 2024, a growth of 37.7%, revealed the Financial Regulatory Authority's (FRA's) latest monthly report.
State-owned Misr Insurance Company, Egypt's biggest non-life insurer, has net profits exceeding EGP6.8bn ($136.6m) for the fiscal year ended 30 June 2024 (FY2024), the highest figure ever recorded by the Egyptian property insurance market.