Circular Letter No. 16 of 2021

FINANCIAL REGULATORY AUTHORITY Deputy Chairman of the Authority

Circular Letter No. (16) of 2021 Dated 2021/07/11 Regarding the Implementation of Article No. (1): Establishment Under Decision No. 698 of 2021 Concerning the Egyptian Travel Insurance Pool

In light of the Authority's observation regarding the receipt of several approval requests from certain insurance companies for travel insurance policy models, coinciding with the issuance of Decision No. 698 of 2021 concerning the Egyptian Travel Insurance Pool, as well as Decision No. 953 of 2021 concerning the implementation of the travel insurance policy model.

In light of what Article No. (1): Establishment of the aforementioned Pool Decision stipulates, "... no insurance company or cooperative insurance association licensed to conduct travel insurance on passports issued by the Ministry of Interior may issue this type of policy in any form outside the Pool, without prejudice to the right of insured beneficiaries to conclude supplementary travel insurance policies with additional coverages from any licensed insurance company or cooperative insurance association authorized by the Authority to issue travel insurance policies."

Therefore, the Authority draws the attention of insurance companies and cooperative insurance associations when submitting approval requests - if they wish to do so - for travel insurance policies, that such policies must include additional coverages or amounts, as applicable, to those provided in the travel insurance policy issued by the aforementioned Pool.

Dina Mahmoud Dr. Mohamed Farid

Deputy Chairman of the Authority Advisor / Rida Abdel Moeity

[Stamp of the Financial Regulatory Authority]

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