The Egyptian insurance industry: draft amendment of the law governing the activity

The Egyptian supervisory authority is preparing a draft amendment to the law regulating the insurance business. The new text provides for new mandatory covers for certain risks. The increase in the minimum share capital required to carry out the insurance business is also on the agenda.

The project is designed to increase the insurance penetration rate from 0.8% to 1.5% over the next four years.

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• The insurance industry in Egypt