On Jul. 14, EGY FRA extended the deadline to meet minimum capital requirements.
EGY FRA extended the deadline for insurance professional companies to comply with minimum capital requirements until Oct. 31, 2026; current compliance period was due to end on Jul. 19, 2026.
Follows Jan. 2025, EGY FRA increased minimum capital for insurance firms, see #240986.
Overview
Applies the extension to insurance brokerage, reinsurance brokerage, risk assessment and loss adjustment, and insurance consultancy companies.
Requires insurance and reinsurance brokerage companies to increase their capital to EGP 5 million.
Requires risk assessment, loss adjustment, and insurance consultancy companies to increase their capital to EGP 3 million.
Aims to enable companies to meet the requirements set out in FRA Decision 196/2024.
Notes that 82 out of 132 companies have already met the minimum capital requirements established under the Unified Insurance Law No. 155 of 2024.
