Four companies have applied for the final licence for standalone medical insurance companies, the Chairman of the Financial Regulatory Authority (FRA), Dr Islam Azzam, has revealed.
He said that six companies have already obtained temporary licences to operate in the branch, according to local media reports.
The licensing follows recently issued regulations for specialised medical insurance companies and the management and governance of healthcare programmes, after the enactment of the Unified Insurance Law in 2024.
Dr Azzam added that the Authority had also approved the establishment of two new companies to conduct microinsurance activities. The regulator is currently studying an application to establish a third microinsurance company, which would enhance insurance inclusion.