**Supervision and Oversight by the Authority on Insurance Professionals

The Authority undertakes supervision and oversight of professions permitted to work in the market, specifically professionals in the Egyptian insurance sector. These professionals are those who are not allowed to engage directly or indirectly in insurance activities without registration and licensing from the Authority. Some of these professions are practiced by individuals, while others are carried out through companies. None of these professions are permitted to combine with any other activities or professions except insurance. The professions include:

  1. Actuaries: This profession is registered in the specialized register maintained by the Authority for individuals holding specific degrees or diplomas as stipulated by the Insurance Supervision and Control Law, after completing the required procedures and documents. Egyptian law permits the practice of this profession only by natural persons.
  2. Insurance Consultants: These are individuals who engage in consultancy activities in the field of insurance, particularly in risk management and evaluation, assessing assets and liabilities of insurance entities, and evaluating rights and obligations of insured and insurers as a basis for arbitration in private disputes. Egyptian law allows the practice of this profession by natural or legal persons.
  3. Loss Adjusters: This profession includes individuals who practice the profession of assessing and estimating damages, studying their causes, evaluating the coverage of the document for those damages, and providing proposals to improve risk prevention measures and maintain the subject of insurance if requested to do so. The individual expert is licensed to practice the profession in one or two types of insurance at most. Egyptian law also allows the practice of this profession by natural or legal persons.
  4. Insurance Brokers: These are natural or legal persons who act in any form to conclude insurance or reinsurance contracts on behalf of an insurance or reinsurance company in exchange for a salary, fee, or commission. Insurance brokers are registered in the brokers’ registry according to their work category in the market (freelance, product on a financial category, contracted, or broker acting on behalf and for the account of an insurance or reinsurance brokerage company). Egyptian law permits the practice of this profession by natural or legal persons.
Last modified: June 12, 2024

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