Draft law for the Egyptian insurance market

FRAThe Egyptian parliament is examining a draft unified insurance law. The bill sets out the rules governing the supervision and control mechanisms over insurance in Egypt.

The new law stipulates that the Financial Regulatory Authority (FRA) shall have the exclusive jurisdiction to establish, license, and control insurance and reinsurance entities. The draft also introduces new categories of compulsory insurance.

The new law is expected to be passed in 2021.

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