Egypt Financial Regulatory Authority extends deadline for foreign non-resident reinsurance brokers to meet registration rules to 31 October 2026

The Egypt Financial Regulatory Authority has extended to 31 October 2026 the deadline for insurance and reinsurance market participants to comply with the registration requirements and standards for foreign non-resident reinsurance brokers. The previous grace period had been due to end on 10 July. The extension gives affected firms more time to meet the standards set out in Financial Regulatory Authority Decision No. 158 of 2025. The compliance period applies to insurance and reinsurance undertakings and to foreign non-resident reinsurance brokers seeking entry on the Financial Regulatory Authority's register for that purpose. Once the grace period ends, insurance and reinsurance undertakings may not deal with reinsurance brokers that are not on the list. The underlying rules require a foreign non-resident reinsurance broker to be a legal entity headquartered outside Egypt, licensed by a comparable regulator, free of supervisory measures in the previous three years, and able to demonstrate relevant experience, a track record with a foreign reinsurer rated at least A and operating in a country rated at least BBB, and an experienced team. Registered brokers must comply with insurance legislation, including anti-money laundering and counterterrorist financing rules, place reinsurance only with reinsurers registered with the authority, avoid conflicts of interest, and protect confidential data. Insurance and reinsurance undertakings must provide the authority with a copy of the brokerage services contract, report violations by the broker, and notify the authority when the relationship ends.