The real challenge for insurers adopting AI does not lie in the availability of technology, but rather in the lack of expertise and institutional capabilities capable of operating and managing the technology, according to the Insurers' Federation of Egypti (IFE).
The results of a survey, in which about 100 insurance experts in the Egyptian market identified prospects, opportunities and challenges in the insurance industry in 2026, show that they predict moderate to strong premium growth for the year.
The acceleration in technological advancement, especially in artificial intelligence and image and sound processing, has led to increasing digital challenges, most notably the phenomenon of deepfakes, according to the Insurers Federation of Egypt (IFE).
The Financial Regulatory Authority (FRA) has issued a decision regulating the mechanisms and conditions for settling claims by the Egyptian Compulsory Insurance Association for Civil Liability Arising from Motor Vehicle Accidents (Compulsory Motor Insurance Consortium/Pool). The move is aimed at simplifying procedures and ensuring that those affected and their families quickly obtain their insurance rights.
AXA Egypt has announced that it is consolidating its operations in the Egyptian market under one AXA umbrella, in a strategic step aimed at enhancing the integration of the group's various activities, and providing integrated solutions involving insurance, healthcare and financial inclusion.
FinTech company Fawry has signed a strategic partnership agreement with talabat Egypt, an e-commerce platform that operates across MENA.
Wethaq Takaful Insurance Company - Egypt (Wethaq Egypt) aims to increase its issued capital to EGP750m ($15.9m) within the next three years to boost its financial solvency and support future growth plans, according to Mr Antar Gad, the company's Chairman.
The insurance sector is witnessing a fundamental shift in risk assessment methods, with the gradual transition from reliance on traditional actuarial models to integrating behavioural data into pricing and underwriting practices, to reflect the actual level of risk more accurately and fairly, the Insurers Federation of Egypt (IFE) has stated.
The Egyptian Financial Regulatory Authority (FRA) has issued a resolution, amending some provisions of a 2024 regulation, regarding the controls for granting and maintaining licences for companies operating in non-banking financial activities, including insurance.
Shareholders of Misr Emirates Life Takaful - SALAMA (METLICO) have approved increasing the company's authorised and paid-up capital to EGP400m ($8.4m) at an extraordinary general assembly meeting.