The Financial Regulatory Authority

Financial Regulatory Authority

Chairman of the Authority

Decision No. (2019) of the Year 2019

Dated 2/7/2019

Regarding the Registration of Sarwa Insurance Company

in the Insurance and Reinsurance Companies Register

Chairman of the Financial Regulatory Authority

Having reviewed the Law on Supervision and Regulation of Insurance in Egypt issued by Law No. 10 of 1981 and its executive regulations and amendments,

and the Law on Joint Stock Companies, Companies Limited by Shares, Limited Liability Companies, and Single-Person Companies issued by Law No. 159 of 1981 and its executive regulations and amendments,

and the Law Regulating Supervision on Non-Banking Financial Markets and Instruments No. 10 of 2009,

and the Board of Directors Decision No. (22) of 2018 dated 27/3/2018 regarding the approval for the establishment of Sarwa Insurance Company,

and the company's initial contract and articles of association, and its registration in the Cairo Investment Commercial Register under No. (122475) dated 27/6/2018,

and the application submitted by the company regarding its registration in the Authority's Insurance and Reinsurance Companies Register, and licensing it to conduct business,

and the memorandum prepared by the Central Administration for Company Establishment and Licensing dated 24/7/2019,

and the approval of the Committee for Examining Company Establishment and Licensing Applications formed within the Authority, in its meeting No. (318) held on 26/7/2019, and endorsed by the Chairman of the Authority.

Has Decided

Article One:

Sarwa Insurance Company is registered in the Authority's Insurance and Reinsurance Companies Register under No. (60) and is licensed to conduct business according to the following details:

Name: Sarwa Insurance Company (Egyptian Joint Stock Company).
Head Office Address: Property No. 7 – Second Floor – Unit No. 3 – Champlain Street – Tahrir – Cairo.

Duration of the Company: (Twenty-nine years) commencing from the date of acquiring its legal personality.

Company Capital:

The authorized capital of the company is set at (Five Hundred Million) Egyptian Pounds, and the issued capital is set at (One Hundred Million) Egyptian Pounds, distributed across (Ten Million) shares, each valued at (Ten) Egyptian Pounds.
The paid-up capital at establishment is (Fifty Million) Egyptian Pounds, to be fully paid up to reach (One Hundred Million) Egyptian Pounds within a period not exceeding five years at most from the establishment date.

Company's Purpose:

Conducting the property and liability insurance business stipulated in the second paragraph of Article (1) of Law No. 10 of 1981, in the following branches:
1. Fire insurance and associated insurances.
2. Insurance against land, river, sea, and air transport risks and related liability insurances.
3. Hull, machinery, and equipment insurance for vessels and related liability insurances.
4. Motor vehicle insurance and related liability insurances.
5. Engineering insurance and related liability insurances.
6. Miscellaneous accident insurance and liability insurance.

Article Two:

This Decision shall be published in the Egyptian Gazette, on the Authority's website, and with the competent authorities.

Its provisions shall be enforced.

Chairman of the Board of Directors

Financial Regulatory Authority

Dr. Mohamed Omran

Smart Village, Building no. B-136, Giza

Postal Code: 12577

Tel.: (00202) 35345350 - Fax: (00202) 35370036

www.FRA.gov.eg

Smart Village, Building B-136, Giza, Egypt