The move comes in implementation of directives of President Abdel Fattah al-Sisi to support the insurance and pension system.
The Financial Regulatory Authority (FRA), Egypt, has launched the nation's first actuarial tables for the insurance sector.
The 5th edition of Sharm Rendezvous Insurance Forum commenced under Prime Minister Mostafa Madbouly, with 980 experts from 33 countries participating.
The Financial Regulatory Authority (FRA) has mandated insurance companies to price their policies to enhance market efficiency and fairness in pricing.
Egyptian expatriates are set to gain social protection, particularly following crises in Libya, Morocco, Russia, and Ukraine, confirmed Assistant Minister of State for Immigration and Egyptian Expatriates, Amr Abbas.
Data from Egypt’s Financial Regulatory Authority showed that local insurers recorded a 28.9% year-on-year growth.
Egypt has a well-established insurance industry, with both life and general insurance companies operating in the country.
Approximately 40 companies are licensed to operate in the Egyptian insurance market, with non-life companies outnumbering life insurers.
The collaboration is a significant step in achieving Estafsar’s goal of increasing insurance penetration levels in Egypt above its current level.
Aims to provide an array of comprehensive insurance services and solutions through Credit Agricole Egypt’s multiple distribution channels.
The insurance sector in Egypt, one of the oldest of its kind in the Middle East and North Africa, is suffering a number of challenges.
President Abdel Fattah Al-Sisi has decided to transfer the ownership of Misr Insurance Holding to the Sovereign Fund of Egypt (TSFE).
The IPOs program is also scheduled to put 10 to 15 percent of the shares of Misr Life Insurance company on the stock exchange.
Before its issuance, the company was under the jurisdiction of the Ministry of Public Business Sector.
The Financial Regulatory Authority (FRA) intends to issue a title deed insurance policy document against risks soon.
Under the patronage of Egypt’s Financial Supervisory Authority, Ministry of Finance and National Organisation of Social Insurance.
It is used by over 100 companies, and e-commerce platforms across eight African markets: Nigeria, Ghana, Kenya, Morocco and Egypt.
This affirms AXA’s robust strategy during its 7 years in the Egyptian market, providing all insurance products to its customers.
The Minister stressed that the Egyptian economy is diversified, and the business climate is attractive to increase domestic and foreign investments.
This is to diversify its investment portfolio and increase the yields of invested funds, Minister of Finance and UHIS Chairman Mohamed Maait said.