Egypt introduces new brokerage regulations

The Egyptian Financial Regulatory Authority (FRA) has introduced a new set of regulations aimed at restructuring the insurance and reinsurance brokerage sector.

Under the new framework, the registration of both individuals and legal entities in the brokers’ registry will be valid for five years. Renewals must be submitted no later than three months before the expiration date.

In addition, all brokerage firms must be registered on the FRA’s dedicated electronic platform for licensed professionals.

Companies are required to open two separate entities within three years, have a qualified board of directors, and report any cessation of business within one week. Firms are prohibited from conducting both activities under a single license without separate authorization. The minimum capital requirement is 5 million EGP (100 270 USD).

This new regulation is part of the Unified Insurance Law, adopted in 2024.