Egypt Financial Regulatory Authority outlines insurance reform priorities and prepares package of rules to implement the Unified Insurance Law

The Egypt Financial Regulatory Authority, through remarks by its chair Mohamed Farid during a meeting with insurance sector leaders, set out its near-term priorities for developing the insurance market, focusing on innovation, improving customer experience, pricing efficiency and greater use of technology. He also signalled a forthcoming package of decisions and regulations intended to put the Unified Insurance Law into effect and support wider insurance inclusion and sector stability. The planned measures are positioned to strengthen sector capabilities, expand the beneficiary base and enable more advanced products and coverages for businesses and individuals. The Authority highlighted operational improvements to raise customer satisfaction, including upgrades to communications, premium collection and claims handling, and urged firms to modernise marketing and engagement to better reach younger generations; it also pointed to ongoing coordination with companies and the industry federation to build public awareness of insurance. Further amendments and by-laws were flagged as imminent to help private insurance funds expand their reach across more business sectors, alongside organised dialogue platforms to explain pension solutions and future coverage options. The Authority also noted that electronic connectivity with insurance companies is nearing completion to build a comprehensive sector database intended to enhance supervisory and regulatory capabilities.