Wethaq Takaful Insurance Company Egypt has developed an integrated plan to underwrite insurance for the oil & gas industry.
The Insurance Federation of Egypt (IFE) has said that it is studying ways of managing natural disaster risks and climate change.
The Sovereign Fund of Egypt (TSFE) has received an offer from an Emirati party to acquire a stake of up to 40% in state-owned Misr Life Insurance Company, Egypt's biggest life insurer.
Insurance premiums in the Egyptian market increased in nominal terms by 30.4% in 2023 to reach EGP74.1bn ($1.55bn), compared to EGP56.8bn in 2022.
The Egyptian Exchange (EGX) has disclosed that the AIG Egypt Insurance shares offered in response to Gulf Insurance Group's (GIG) mandatory offer to purchase shares in the former numbered 32,608 shares or 58.1% of the total number of shares available for purchase.
The insurance industry is expecting gains from the Central Bank of Egypt's (CBE) move on 6 March to liberalise the Egyptian pound and raise major interest rates by 600 basis points. The goal is to combat high inflation and attract foreign investments.
The Economic Committee of the House of Representatives has recommended that a national reinsurance entity be established and that a small panel be formed to discuss the creation of the reinsurer.
The Insurance Federation of Egypt (IFE) is studying various options to arrive at the optimal business model for a natural disaster pool that it plans to establish.
Al-Hayat Investments Holding Company plans to enter the insurance business by establishing three new entities so as to seize growth opportunities in the insurance market.
The Insurance Federation of Egypt (IFE) is urging insurance companies to implement the sustainability disclosure standards IFRS S1 & S2.