The Insurers Federation of Egypt (IFE) has recommended that insurance companies create green products and contribute to financing environmental projects.
The Competition Commission of the Common Market for Eastern and Southern Africa (COMESA) has published a notice of inquiry into the proposed acquisition of Egypt's Delta Insurance by Morocco's Wafa Assurance.
The Financial Regulatory Authority (FRA) has issued regulations covering the digital issuance and distribution of insurance policies by insurance companies and brokers.
The Financial Regulatory Authority (FRA) has approved the publication of a mandatory tender offer submitted by a leading Moroccan insurance company, Wafa Assurance, to acquire shares in Delta Insurance Company.
The Financial Regulatory Authority (FRA) announced in a statement last week that it had launched a comprehensive training strategy for the insurance sector to build future leaders, in cooperation with Egyptian insurance companies and a number of international universities and institutes.
The Central Bank of Egypt's (CBE) move to ease its monetary policy-supported by declining inflation rates-will increase the ability of insurance companies to offer customers more competitive premium rates, as insurers expect to pay less compensation, contributing to stabilising insurance prices, according to Mr Omar Gouda, former managing director of Misr Insurance.
The Insurers Federation of Egypt (IFE) says that the insurance industry is witnessing fundamental transformations in its product marketing strategies, driven by technological advancements and changing customer behaviour.
While Egypt's population has reached approximately 108m, according to recent data from the Central Agency for Public Mobilisation and Statistics, the life insurance penetration rate in the local market remains low at less than 1%, compared to the global average of 7-10%.
The Financial Regulatory Authority (FRA) has issued a model for the mandatory third-party liability insurance policy for accidents involving rapid transit vehicles within Egypt.
The Insurers Federation of Egypt (IFE) has formed a specialised committee to study the Financial Regulatory Authority's proposals regarding insurance company governance rules.