The Egypt Financial Regulatory Authority issued a circular clarifying the transition arrangements for insurance consulting experts who were registered when the Unified Insurance Law took effect. Their registrations remain valid without a new license or registration solely because of the law or its implementing decisions, with the five-year registration term calculated from July 11, 2024. Experts must still meet the new conditions under the law and Board Decision No. 25 of 2026 within the applicable compliance period, including providing a valid professional liability insurance policy that meets regulatory requirements. Expiry of that period will not start a new registration term or renew an existing registration, although the authority may take measures against experts who fail to comply.
Egypt Financial Regulatory Authority confirms continued registration of insurance consulting experts under Unified Insurance Law transition
The Egypt Financial Regulatory Authority confirmed that insurance consulting experts registered when the Unified Insurance Law took effect do not need a new license or registration, and their five-year term runs from July 11, 2024. They must meet the new regulatory conditions within the applicable compliance period, including holding valid professional liability insurance.