The Egypt Financial Regulatory Authority has issued a board decision extending the period for all companies and entities operating in the insurance sector to regularise their positions under the Unified Insurance Law, providing an additional year for implementation. The extension applies to the deadline set in Article 7 of the Unified Insurance Law (Law No. 155 of 2024), adding one further year from 11 July 2025, which marks the end of the first year of the law’s application. Article 7 originally required in-scope entities to comply within one year from the date the law took effect, and allows the FRA board to grant further extensions up to a maximum of three years from that effective date. The Unified Insurance Law introduces new rules and ratios for investing the funds of insurance and reinsurance companies, binding timelines for preparing and presenting financial statements for insurance companies and insurance pools, and additional regulatory provisions including allowing property insurers to conduct certain other lines of business.
Egypt Financial Regulatory Authority 2025-06-15
Egypt Financial Regulatory Authority extends Unified Insurance Law compliance deadline for insurers by one year from 11 July 2025
The Egypt Financial Regulatory Authority has extended the compliance deadline for insurance companies under the Unified Insurance Law by one year, now set for 11 July 2025. This pertains to Article 7 of Law No. 155 of 2024, which initially required compliance within one year and permits extensions up to three years. The law introduces new investment rules, financial statement timelines, and regulatory provisions for insurance and reinsurance companies.