The Egypt Financial Regulatory Authority issued Board Decision No. 1 of 2025 setting out when a single entity may establish more than one private insurance fund for its members, aiming to standardise the creation of multiple funds under clear criteria. The decision permits more than one fund where each fund provides different benefits under its articles of association, including insurance, savings, medical, social, periodic pension benefits, or other benefits. It also allows multiple funds where the membership base differs within the same entity by cadre, job category, wage level, or other distinctions, and where the Authority accepts other reasons supported by justifications. The announcement also reiterates that private insurance funds are registered with the Authority as separate legal entities established to grant benefits to groups with a common link, and it references the Authority’s earlier Decision No. 236 of 2024 updating the standard articles of association in line with the Unified Insurance Law, which assigns the Authority’s board responsibility for the rules governing this activity.
Egypt Financial Regulatory Authority 2025-03-04
Egypt Financial Regulatory Authority issues rules allowing multiple private insurance funds within the same entity under defined conditions
The Egypt Financial Regulatory Authority issued Board Decision No. 1 of 2025, allowing a single entity to establish multiple private insurance funds under specific criteria. These funds can offer varied benefits or cater to different membership bases within the same entity. The decision aligns with the Authority's previous updates to standard articles of association under the Unified Insurance Law.