Egypt: Entry into force of the new regulation for reinsurers

The Egyptian Financial Regulatory Authority (FRA) annouced that the new regulation related to reinsurance shall take effect on January 1st,2015.
FRA Logo

On that date, reinsurers will have the pbligation to register with FRA to practice their activity. Only registered companies on FRA's list will have the right to receive premiums from insurers. The list will include both the reinsurer's name and its rating, obtained with one of the four rating agencies approved by the regulator. However, a company holding at least 60 million USD of shareholders equity will be exempted from the req

The regulation also set a ceded premiums ceiling to insurers, by reinsurer and by country.

Note that rules about the registration of reinsurance brokers with FRA are also in study.

Your rating: None
Advertising Program          Terms of Service          Copyright          Useful links          Social networks          Credits