The Egypt Financial Regulatory Authority held an expanded meeting with Egyptian actuaries and outlined plans to deepen cooperation with the profession, raise qualification standards and continue updating the regulatory and professional framework for actuarial work. The authority linked the effort to growing demand for actuarial expertise in Egypt’s non-bank financial sector, particularly in insurance companies and funds, where actuaries play a central role in risk management and financial stability. Discussions covered renewing and strengthening cooperation with the Society of Actuaries, described by the authority as the world’s largest actuarial professional body, and maintaining high quality and competency standards for admission to the actuarial science diploma at the American University in Cairo, launched in 2023. The authority also highlighted postgraduate actuarial programs being developed with the Insurance Federation of Egypt and educational institutions to address shortages in the field as demand rises under legislative changes, notably Unified Insurance Law No. 155 of 2024 and related implementing decisions. It added that work is continuing on the profession’s regulatory and professional rules, including recent Decision No. 56 of 2026 governing the work of individuals and companies engaged in actuarial activity. Participants raised shortages of graduates, emigration of specialists and Egyptian companies’ use of foreign actuarial firms. The authority indicated it is open to wider cooperation with the Society of Actuaries, government bodies and academic institutions, and supports practical initiatives to raise awareness of actuarial careers among school and university students and improve the profession’s appeal to younger entrants.
Egypt Financial Regulatory Authority 2026-05-07
Egypt Financial Regulatory Authority outlines expanded actuarial cooperation and further upgrades to professional rules
The Egypt Financial Regulatory Authority held an expanded meeting with Egyptian actuaries and set plans to deepen cooperation, raise qualification standards and update the regulatory and professional framework for actuarial work in the non-bank financial sector. The authority highlighted collaboration with the Society of Actuaries and academic institutions, new postgraduate programs, and Decision No. 56 of 2026 governing actuarial activity, in response to rising demand under Unified Insurance Law No. 155 of 2024 and shortages of qualified actuaries.