Regulatory Alerts2014-01-01
General Financial Regulatory Authority Board Resolution No. (19) of 2014 on Insurance and Reinsurance Companies Contracting for Managing Dedicated Investment Portfolios
The General Financial Regulatory Authority (GFRA) issued Resolution No. 19 of 2014, updated in 2023, to govern how Egyptian insurance and reinsurance companies outsource the management of their dedicated investment portfolios to licensed portfolio managers. The resolution establishes strict eligibility criteria for managers, including minimum three-to-five years of operation and asset thresholds, while capping entrusted portfolio values at 30% of the manager's total assets and 50% of the insurer's dedicated funds. It further mandates comprehensive contractual terms, quarterly financial reporting, internal audit verification, and explicit board approvals to ensure strict compliance with Egypt's insurance supervision laws.
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