Regulatory Alerts2014-01-01
Decision of the Board of Directors of the Authority No. (122) of 2014
The Egyptian Financial Supervisory Authority issued Decision No. 132 of 2014 to regulate how Egyptian insurance companies and cooperative insurance associations engage with reinsurers. The decision mandates that all reinsurance transactions must be conducted exclusively with reinsurers registered on the Authority's approved list, subject to minimum credit ratings from recognized agencies such as A.M. Best, Standard & Poor's, Fitch, and Moody's. It further imposes strict concentration limits on reinsurance portfolios, requires rigorous risk management and due diligence, and establishes a formal application and registration process for reinsurers, replacing the previous 2013 decision effective January 1, 2015.
Share