الهيئة العامة للرقابة المالية

FRA Board of Directors chaired by Dr. Islam Azzam, has officially issued a resolution extending the compliance deadline for insurance auxiliary firms to meet their minimum capital requirements. The newly extended regulatory grace period will now run until October 31, 2026.

The transitional compliance period was originally scheduled to expire on July 19. However, the Authority approved the extension to ease the financial and administrative transition for these firms, allowing them sufficient time to fully meet the standards and regulatory criteria stipulated in Resolution No. 196 of 2024.

The deadline extension applies to the following insurance auxiliary firms: insurance and reinsurance brokerage companies which are required to raise their minimum capital to EGP 5 million; and risk assessment, loss adjusting, and insurance consultancy firms whose capital requirement has been set at EGP 3 million.

According to the data, 82 out of 132 firms operating in these sectors have already complied with the minimum capital requirements established by FRA under the Unified Insurance Law No. 155 of 2024. This regulatory framework is designed to strengthen the financial solvency of these firms and enhance their risk-management capabilities, ultimately bolstering the stability of the broader insurance market and increasing its overall contribution to the national economy.