Egypt's Financial Regulatory Authority (FRA), has introduced new investment rules and ratios for the funds of insurance and reinsurance companies.
At the annual forum of the Universal Health Insurance, Egypt's Prime Minister Mostafa Madbouly reaffirmed Egypt's unwavering commitment to strengthening its healthcare sector.
The Egyptian Senate reviewed a general debate request from member of parliament Mohamed El-Manzalawi and more than 20 members regarding government policies to enhance the efficiency and competitiveness of the insurance sector, according to news site Amwal Al Ghad.
Total premium income for the insurance market in Egypt registered notable growth in the period between January and November 2024, according to the Financial Regulatory Authority (FRA) monthly report.
Gulf Insurance Group (GIG) Egypt's subsidiary has increased it paid up capital to EGP600m ($11.9m), the move comes completing the merger with AIG Egypt, a subsidiary of American International Group. In the last quarter of 2023, GIG acquired AIG Egypt in a deal valued at around EGP197m. Last January, the Group consolidated its Egypt subsidiary, GIG Egypt, with its newly acquired company AIG Egypt.
With the release of its annual statistics for the year 2022/2023, the commission rates and production costs ratios of various insurance lines can be compared to those of the previous fiscal year of 2021/2022, according to Al-Mal News.
Misr Insurance Holding Group (MIHC) has named Mrs Bahia Ahmed Ismail as executive managing director of the company effective 23 January 2025. She will also be the representative of the Sovereign Fund of Egypt, the owner of MIHC since 2023.
Increasing the capital requirements and introducing new compulsory insurance covers will be a game-changer in the insurance sector says chairman of the Insurance Federation of Egypt.
The Financial Regulatory Authority (FRA) issues a decision to increase the minimum capital of insurance companies to enhance financial solvency and as part of the implementation of the Unified Insurance Law. Insurance companies are required to increase their capital to EGP600m ($11.9m) within two years.
Egypt's Financial Regulatory Authority adopts a package of measures to implement the new Unified Insurance Law with technology and modernisation of the sector being a top priority.