The Egypt Financial Regulatory Authority amended its 2025 professional and licensing rules for insurance and reinsurance brokerages, removing a mandatory branch-expansion requirement while tightening safeguards against conflicts of interest. The changes refine the brokerage framework established under the Unified Insurance Law by giving firms more operational flexibility and reinforcing the separation between brokerage and insurance consultancy activities. Brokerage companies will no longer have to open at least two branches within three years of starting operations. The Authority found that technological developments and varied service channels had reduced the need for mandatory geographic expansion, which could impose costs inconsistent with firms’ business models. Separately, insurance consulting experts will be barred from executive management roles at brokerage companies, aligning the rules with a 2026 decision that prevents individuals registered as consulting experts from also being registered as accredited insurance brokers. The decision will take effect on the day after its forthcoming publication in the Egyptian Gazette.
2026-08-29Egypt Financial Regulatory Authority
Egypt Financial Regulatory Authority removes branch mandate for insurance brokers and bars consulting experts from executive roles
The Egypt Financial Regulatory Authority has removed the requirement for insurance and reinsurance brokerage companies to open at least two branches within three years. It has also barred consulting insurance experts from executive roles at brokerage companies to separate the activities and prevent conflicts of interest.