Misr Insurance Company, Egypt's biggest insurer, has produced a financial performance viewed as good by Fitch Ratings, with a net annualised return on average equity of 14% in the six months ended 31 December 2024 (1HFY25) and averaging 12% over FY21-FY24, driven primarily by investment income.
Egypt's Financial Regulatory Authority (FRA) is allowing life insurance companies to invest directly in precious metals, including gold, in a decision that is the first of its kind in the Egyptian market.
Egypt's insurance regulator, the Financial Regulatory Authority (FRA), has issued new regulations concerning the registration of reinsurance companies and their branches to carry out business with Egyptian insurers.
The Financial Regulatory Authority (FRA) has so far issued 47 regulations to implement and enforce the Unified Insurance Law, which was enacted in July 2024, revealed FRA Chairman Mohamed Farid.
The Insurers Federation of Egypt (IFE) has stressed the need for insurance companies to cooperate with the Ministry of Culture and the Supreme Council of Antiquities to develop unified technical mechanisms to assess the risks associated with antiquities and cultural artifacts.
GIG Insurance-Egypt (GIG-Egypt) has a record of generating strong earnings despite the challenging operating conditions and high inflationary environment of Egypt, states AM Best.
The Financial Regulatory Authority (FRA) has revealed that it has received 10 applications for licences to offer specialised medical insurance and third-party administration (TPA) services, according to the chairman of the regulatory agency, Dr Mohamed Farid.
The Financial Regulatory Authority (FRA) has issued a resolution that requires companies and entities engaged in non-banking financial activities to obtain cyber insurance, particularly if they operate a digital platform or electronic applications.
The Insurers Federation of Egypt (IFE) has announced its commitment to positioning Egypt as a leading international hub for the insurance industry in Africa. This initiative forms part of a broader national strategy aimed at attracting long-term investments and strengthening Egypt's role on the global insurance landscape.
Egyptian InsurTech company SehaTech has raised $1.1m in a seed funding round to expand its AI-centred platform that streamlines and automates health insurance administration.