Regulatory Alerts2013-01-01
Decision of the Board of Directors of the Financial Regulatory Authority No. (35) of 2013 regarding the Statutes of the Egyptian Insurance Union
The Financial Regulatory Authority of Egypt issued Decision No. (35) of 2013 to formally approve and enforce the Statutes of the Egyptian Insurance Union. The regulation establishes the Union as a non-profit legal entity tasked with modernizing the insurance sector, coordinating market competition, and safeguarding members' interests through standardized ethical and operational guidelines. It outlines mandatory membership for licensed insurers, defines financial obligations and resource allocation, and structures governance through a General Assembly, a thirteen-member Board of Directors, and specialized executive and technical committees.
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