The Financial Regulatory Authority (FRA) has recently proposed a bill imposing an insurance cover against divorce. This insurance should be compulsory for any marriage. According to the authorities, the objective of this law is to protect the Egyptian woman in case of divorce.
However, there are a number of ambiguities surrounding this project. For instance, the conditions for the designation of the policy's beneficiary are not clear enough. Also, no clarifications have been made on the scope of the law: will it apply to all communities?
The country recorded 211 554 divorces in 2018, an increase of 6.7% in comparison with 2017. The 30-35 age group is the most affected by this scourge with 43 314 divorces in 2018, that is 20.47% of the total number of separations.
FRA is currently preparing an actuarial study to determine the insurance premiums and compensation amounts in the event of divorce.
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