News Middle East14 Jul 2019

Egypt:Insurance market has 81 brokerage firms

| 14 Jul 2019

The number of insurance brokerages in Egypt has grown to 81, following approval granted by the Financial Regulatory Authority (FRA) to Omni and BrokerCare in recent weeks.

Of the total, 72 are direct brokers while nine are reinsurance brokerage companies

Insurance brokers in Egypt were traditionally individuals working with several companies, but an amendment to the insurance law in 2008 allowed the establishment of corporate brokers. The first brokerage company in Egypt was established in 2009. Since then, nine broking firms have been de-registered.

Collins Insurance Group obtained the latest reinsurance broking licence in August 2018.

 

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