The new board of the Insurers Federation of Egypt (IFE) has formulated an ambitious strategy for the years 2025-2029 -- a vision that reflects both continuity and progress, anchored on Egypt's national agenda for financial inclusion, innovation and sustainability.
The new board, elected in August 2025, continues the legacy of success, said the Chairman of the Insurers Federation of Egypt (IFE) Alaa El-Zoheiry. Mr El-Zoheiry at the 7th annual Sharm Rendezvous.
Opening the Sharm Rendezvous yesterday, he said that the Federation’s four-year strategy serves as a roadmap for transformation — comprising four core pillars that define the industry’s direction, namely:
- Extending protection to new segments of society.
- Fostering innovation and InsurTech.
- Integrating ESG principles
- Enhancing transparency across the market.
He said, “The Federation, under the guidance of its new board, has already begun implementing this strategy through a series of concrete and forward-looking actions”, some of which are:
- Signing a cooperation protocol with the Egyptian Healthcare Authority, which aims to promote medical insurance and enhance integration between the services provided by both entities
- Continuing collaboration with key market players, as the IFE will be organising the 52nd Conference and Annual General Assembly of the African Insurance Organisation in Cairo, to be held from 16 to 20 May 2026.
In his address, he summarised notable developments at various market and regulatory levels in the insurance market, which bode well for the future of the sector.
He pointed to the Unified Insurance Law, passed in 2024, as a landmark reform that represents not just a structural transformation, but a fundamental shift in mindset within the insurance sector.
Capacity building and education
The IFE also places great emphasis on building professional capacity within the insurance sector, through its specialised technical committees, which have organised bi-weekly workshops addressing diverse insurance topics and showcasing the best international practices across various lines of business.
In addition, the Federation has taken significant steps to advance actuarial sciences to develop actuarial experts. The IFE has concluded a cooperation protocol with the Faculty of Commerce at Cairo University to offer full scholarships for up to 40 students. It is also further implementing a cooperation protocol with the American University in Cairo, to offer Egypt’s first professional diploma in actuarial sciences for university graduates.
Building on 70 years of development
Marking over 70 years of service and leadership, the IFE stands at the threshold of a new era, “one that is defined not only by institutional reform, but by a renewed sense of purpose and direction”, stated Mr El-Zoheiry. The IFE was founded in 1953.
Mr El-Zoheiry added, “This year’s Rendezvous comes in what has been a truly remarkable year for our Federation—what stands out most is not only what we have achieved but also how we achieved it.”
He said that last year, the insurance industry in Egypt benefited from the significant growth of the economy, compared to the previous year. “Such progress has been made possible through the collective efforts of all market stakeholders and the continued support of the Financial Regulatory Authority (FRA),” he noted.
These efforts, he said, have yielded tangible results as manifested by significant growth in insurance premiums that reached EGP82.3bn ($1.74bn) for the financial year ended June 2024 (FY2024), compared to EGP61bn in FY2023, a 34% jump. In FY2024, gross paid claims reached EGP37bn against EGP27bn in FY2023, a 34% increase. Insurance companies’ net investments reached EGP298bn at the end of FY2024, registering an annual growth rate of 43%.
Challenge of uncertainty
“This year Sharm Rendezvous’ theme, “Insurance in the Era of Uncertainty”, speaks to the heart of our times,” said Mr El-Zoheiry.
He added that across the globe, uncertainty is reshaping the world with geopolitical shifts disrupting trade and transport routes; technological change, led by AI, transforming how risks are assessed and managed; and demographic evolution, redefining customer expectations and social priorities.
He said, “In the face of these challenges, insurance is not merely a safety net — it is society’s most powerful mechanism for stability and foresight.”
Organised by the IFE, the Sharm Rendezvous, which ends today, is attended by around 1,000 delegates representing 236 Egyptian and international companies from 40 countries.