2010-01-01

Authority Board of Directors Decision No. (77) of 2010

The Authority's Board of Directors extended the regulatory compliance deadline for six specified insurance companies until December 31, 2010. This extension permits AIS Insurance, ING Life Insurance, and Royal Insurance to increase their issued and paid-up capital, while granting Egypt Insurance, Al-Ahliya Insurance, and Al-Muhandis Insurance additional time to separate their business activities. The unanimous board resolution formalizes these temporary adjustments to ensure orderly regulatory settlement.

Egypt

Financial Regulatory Authority Egypt

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Authority Board of Directors Decision No. (77) The Board, by unanimous consent of those present, agreed to extend the deadline for settling the status of the following companies until 31/12/2010 as follows:

1. AIS Insurance – Property / ING Life Insurance / Royal Insurance (to increase the issued and paid-up capital).
2. Egypt Insurance / Al-Ahliya Insurance / Al-Muhandis Insurance (to separate the business activity).