Regulatory Alerts2019-01-01
Decision of the Financial Regulatory Authority Board No. 46 of 2019 Amending Decision No. 262 of 1995 on Insurance and Reinsurance Assets and Liabilities
The Financial Regulatory Authority of Egypt issued Decision No. 46 of 2019 to amend the asset and liability accounting rules for insurance and reinsurance companies under its previous Decision No. 262 of 1995. The amendment specifically revises item 6/d of Article One to mandate that premium receivables overdue by more than three months must be recognized, with an exception for medical insurance premiums not yet due at fiscal year-end, provided they are disclosed in the financial statement notes. This decision was approved on March 19, 2019, and became effective the day after its publication in the Official Gazette and on the Authority's website.
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