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.
Speaking at a media conference last week, Mr Farid said that the applicants included four medical insurers and six TPA companies, according to a report by Amwal Alghad.
The licensing of TPAs follows the passage of the Unified Insurance Law, passed in 2024, which regularises the status of TPAs and subjects them to the FRA’s supervision and control.
The law sets a minimum capital of EGP75m ($1.58m) for specialised medical insurance companies, and of EGP20m for TPAs.