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.
Orient Takaful Insurance Egypt has received the approval of the Financial Regulatory Authority (FRA) to change its operating model from takaful to conventional, the financial regulator announced in a statement.
Technical committees of the Insurers' Federation of Egypt (IFE) are currently studying the proposed form of the divorce insurance policy, a line of business provided for under the new insurance law passed in 2024.
The Financial Regulatory Authority (FRA) has approved a capital increase of EGP200m ($4.2m) proposed by Delta Life Insurance Company. The increase will be implemented through a bonus issue.
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.