Egypt's regulator, the Financial Regulatory Authority (FRA), has issued its decision to obligate insurers to keep records on their activities, thus emphasising data governance.
The Financial Regulatory Authority has issued a new rule requiring government insurance funds to invest 5%-20% of their total assets in shares listed on the Egyptian Stock Exchange through open-ended investment funds, applicable when a fund's total investments exceed EGP100m ($2.1m).
The Insurers Federation of Egypt (IFE) has affirmed that adopting AI technologies within the insurance sector is a strategic step toward developing the market, boosting competitiveness, and enhancing operational efficiency across all insurance branches.
AM Best has assigned a Financial Strength Rating of 'B' (Fair) and a Long-Term Issuer Credit Rating of 'bb' (Fair) to Royal Insurance Company (Royal) (Egypt). Additionally, AM Best has assigned the Egypt National Scale Rating of 'aaa.EG' (Exceptional) to Royal. The outlook assigned to these Credit Ratings (ratings) is stable.
The Financial Regulatory Authority (FRA) has issued its first unified services guide for the non-banking financial sector, including the insurance industry.
The life insurance market in Egypt is undergoing a noticeable shift in customer preferences, with rising demand for investment-linked products over traditional policies that have been heavily impacted by decades of high inflation, according to the Insurers Federation of Egypt (IFE).
The Egyptian cabinet has approved the automatic enrolment of the country's vulnerable citizens into the state-run universal health insurance system.
The Financial Regulatory Authority (FRA) has issued a resolution for a model policy for the Government Fund for Insurance against Risks Resulting from Medical Errors.
The Financial Regulatory Authority (FRA) has issued a decision regulating the work of the "Committee for the Protection of Clients and Settlement of Disputes in Insurance".
The Financial Regulatory Authority (FRA) has issued a resolution regarding the rules and standards regulating the practice of healthcare management operations in Egypt.