The fire and explosion at Arabella Plaza Mall in New Cairo's Fifth Settlement, in Egypt, that resulted in three deaths, 11 injuries and material damage, has highlighted the importance of having integrated insurance programmes for facilities that hold large numbers of people, especially malls and shopping centres.
The Financial Regulatory Authority (FRA) has approved GIG Insurance-Egypt's capital increase, amounting to EGP150m ($2.97m).
The Insurers Federation of Egypt (IFE) has set out the work strategy of its technical committees for 2026, including several main tasks.
The Insurers Federation of Egypt (IFE) has emphasised the importance of strengthening the integration between academic education and the insurance market, in light of rapid changes in the labour market.
Egyptian Takaful Properties and Liabilities Insurance Company (Egyptian Takaful) has a track record of solid operating performance despite the challenging macroeconomic conditions in Egypt, notes AM Best which assesses Egyptian Takaful's operating performance as adequate.
QNB Egypt Bank, a subsidiary of the Qatari-owned commercial bank, QNB, plans to establish a property insurance company, in a move aimed at completing the group's non-banking financial services system. The new company is likely to be named QNB Insurance.
The Financial Regulatory Authority (FRA) has granted preliminary approval for two artificial intelligence-driven insurance projects for its regulatory sandbox, the Authority's regulatory testing environment for FinTech applications.
The Egyptian government aims to complete the procedures for listing Misr Life Insurance Company on the Egyptian Exchange before the end of 2026, according to Dr. Mohamed Farid Saleh, Minister of Investment and Foreign Trade.
Crescent Egypt Insurance Brokers has welcomed Dr Mahmoud Ahmed El-Sherif as Chief Commercial and Marketing Officer.
Dr Islam Azzam, Chairman of the Financial Regulatory Authority (FRA), has issued a decision to reconstitute the Egyptian Committee for the Establishment and Study of Actuarial Tables for Life Insurance. The move aims to update the technical foundations life insurers use to price products, enhancing market efficiency while reflecting Egypt's recent health and demographic changes.