الهيئة العامة للرقابة المالية

• The Committee will evaluate market performance data collected since 2022 to assess updates to Egypt’s life actuarial tables.
• It will analyze key metrics submitted by insurers to drive more accurate, fair and efficient product pricing.

Dr. Islam Azzam, FRA Chairman has issued a decision to reconstitute the Egyptian Committee for the Development and Review of Life Insurance Actuarial Tables. The move falls under FRA’s ongoing strategy to modernize the insurance sector, enhance operational efficiency and empower companies to price insurance products with greater precision.

Under the new decision, Counsellor Reda Abdel Moaty, Senior Advisor to FRA Chairman will chair the Committee. Its membership will comprise officials from relevant FRA departments, managing directors of life insurance companies, and leading actuarial experts in the Egyptian market. A dedicated technical secretariat specializing in actuarial science and technical support will assist the Committee.

The Committee is mandated to compile, audit and analyze actual mortality and disability experience data submitted by life insurers since the release of the first national actuarial tables in 2022. It will benchmark these real-world statistics against the baseline rates set in the original tables.

Based on its findings, the Committee will conduct a technical study to determine whether a comprehensive or partial update to Egypt’s life actuarial tables is necessary, evaluating the potential impact on product pricing across the industry.

Additionally, the Committee is tasked with proposing a long-term framework for periodic reviews of the national actuarial tables. This framework will align with evolving market trends and international actuarial best practices.

Commenting on the decision, Dr. Islam Azzam, FRA Chairman stated: “Since the launch of Egypt’s first national actuarial tables four years ago—ending decades of reliance on English life tables—they have played a crucial role in enabling life insurers to price products fairly and accurately. This framework has empowered the market to introduce innovative solutions and deliver broader protection to policyholders.”

Dr. Azzam noted that re-forming the Committee aims to capture the latest indicators regarding mortality, disability, gender distributions and age brackets. This will allow the sector to adapt more efficiently to evolving health and social dynamics, streamline product pricing and launches and ensure precise calculation of technical reserves.

He emphasized that FRA remains committed to boosting insurance penetration and expanding coverage across Egypt. In continuous collaboration with the Insurance Federation of Egypt (IFE) and market players, FRA seeks to incentivize the rapid development of innovative insurance products that cater to the evolving needs of diverse demographic segments.