{"id":23968739,"date":"2026-07-03T08:47:05","date_gmt":"2026-07-03T05:47:05","guid":{"rendered":"https:\/\/fra.gov.eg\/fra_news\/%d8%af-%d8%a5%d8%b3%d9%84%d8%a7%d9%85-%d8%b9%d8%b2%d8%a7%d9%85-%d8%b1%d8%a6%d9%8a%d8%b3-%d9%87%d9%8a%d8%a6%d8%a9-%d8%a7%d9%84%d8%b1%d9%82%d8%a7%d8%a8%d8%a9-%d8%a7%d9%84%d9%85%d8%a7%d9%84%d9%8a%d8%a9\/"},"modified":"2026-07-05T13:05:13","modified_gmt":"2026-07-05T10:05:13","slug":"%d8%af-%d8%a5%d8%b3%d9%84%d8%a7%d9%85-%d8%b9%d8%b2%d8%a7%d9%85-%d8%b1%d8%a6%d9%8a%d8%b3-%d9%87%d9%8a%d8%a6%d8%a9-%d8%a7%d9%84%d8%b1%d9%82%d8%a7%d8%a8%d8%a9-%d8%a7%d9%84%d9%85%d8%a7%d9%84%d9%8a%d8%a9","status":"publish","type":"fra_news","link":"https:\/\/fra.gov.eg\/en\/fra_news\/%d8%af-%d8%a5%d8%b3%d9%84%d8%a7%d9%85-%d8%b9%d8%b2%d8%a7%d9%85-%d8%b1%d8%a6%d9%8a%d8%b3-%d9%87%d9%8a%d8%a6%d8%a9-%d8%a7%d9%84%d8%b1%d9%82%d8%a7%d8%a8%d8%a9-%d8%a7%d9%84%d9%85%d8%a7%d9%84%d9%8a%d8%a9\/","title":{"rendered":"FRA Chairman Issues Resolution to Streamline Approval Process for Group Insurance Contracts \u2013 Friday 3 July 2026"},"content":{"rendered":"<ul>\n<li style=\"text-align: left\"><span style=\"color: #800000\">The new system balances operational speed with strict regulatory compliance for both standard and non-standard contracts.<\/span><\/li>\n<li style=\"text-align: left\"><span style=\"color: #800000\">Companies must submit all relevant data within the first week of the month following issuance or renewal.<\/span><\/li>\n<\/ul>\n<p dir=\"ltr\" style=\"text-align: left\">Dr. Islam Azzam, FRA Chairman issued a new resolution establishing clear guidelines for reporting insurance contract data. The framework applies directly to life insurance and funds accumulation operators in the market.<\/p>\n<p dir=\"ltr\" style=\"text-align: left\">The resolution aims to streamline and accelerate the approval process for group insurance contracts. It covers standard contracts (issued or renewed using pre-approved models) as well as non-standard contracts (renewed client policies previously cleared by FRA upon issuance). This streamlined framework functions without prejudice to the statutory mandates of the Unified Insurance Law No. (155) of 2024.<\/p>\n<p dir=\"ltr\" style=\"text-align: left\">Furthermore, the resolution establishes a new framework governing corporate interactions with the Authority, optimizing the approval mechanism for both standard and non-standard contracts.<\/p>\n<p dir=\"ltr\" style=\"text-align: left\">Under the new framework, companies must provide the Authority with a dedicated statement detailing all standard contracts issued or renewed under each pre-approved model. This submission must include a copy of the previously approved template, alongside an undertaking from the company\u2019s legal representative certifying that the issued contracts fully align with the approved model. Furthermore, the representative must affirm that these contracts comply with the technical basis, actuarial reports and reinsurance arrangements previously submitted to the Authority.<\/p>\n<p dir=\"ltr\" style=\"text-align: left\">Regarding non-standard contracts, companies are required to notify the Authority with a unified statement detailing all such policies. This must be accompanied by an undertaking from the company\u2019s legal representative, confirming that the renewed contracts strictly match those previously approved by the Authority upon initial issuance. The representative must also certify that the renewals comply with the technical bases, actuarial reports and reinsurance arrangements previously submitted to the Authority.<\/p>\n<p dir=\"ltr\" style=\"text-align: left\">The resolution mandates that companies submit all data concerning both standard and non-standard contracts within the first week of the month following the policy&#8217;s issuance or renewal.<\/p>\n<p dir=\"ltr\" style=\"text-align: left\">Additionally, FRA may at any time request that companies provide copies of standard or non-standard contracts, related actuarial reports detailing actual performance history, or any other supporting documentation.<\/p>\n<p dir=\"ltr\" style=\"text-align: left\">Dr. Islam Azzam stated that this new system for managing standard and non-standard contracts strikes the ideal balance between the speed required to stimulate the market and incentivize corporate expansion, and the rigorous oversight needed to ensure transparency and accountability across company operations.<\/p>\n<p dir=\"ltr\" style=\"text-align: left\">He noted that this resolution followed an extensive dialogue with market stakeholders and a comprehensive review of the practical considerations arising from the implementation of Article (209) of the Unified Insurance Law. This article requires companies to report all policy terms, models, and amendments to FRA. These updates cannot be utilized until they are either formally approved or a 30-day window passes following the submission of all required documentation without any regulatory objection.<\/p>\n","protected":false},"author":124,"featured_media":23520580,"parent":0,"template":"","format":"standard","categories":[142,144],"tags":[3791,5074,5324,5325,5326],"fra_news_taxonomy":[2137,2138],"news_paper_taxonomy":[],"_links":{"self":[{"href":"https:\/\/fra.gov.eg\/en\/wp-json\/wp\/v2\/fra_news\/23968739"}],"collection":[{"href":"https:\/\/fra.gov.eg\/en\/wp-json\/wp\/v2\/fra_news"}],"about":[{"href":"https:\/\/fra.gov.eg\/en\/wp-json\/wp\/v2\/types\/fra_news"}],"author":[{"embeddable":true,"href":"https:\/\/fra.gov.eg\/en\/wp-json\/wp\/v2\/users\/124"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/fra.gov.eg\/en\/wp-json\/wp\/v2\/media\/23520580"}],"wp:attachment":[{"href":"https:\/\/fra.gov.eg\/en\/wp-json\/wp\/v2\/media?parent=23968739"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/fra.gov.eg\/en\/wp-json\/wp\/v2\/categories?post=23968739"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/fra.gov.eg\/en\/wp-json\/wp\/v2\/tags?post=23968739"},{"taxonomy":"fra_news_taxonomy","embeddable":true,"href":"https:\/\/fra.gov.eg\/en\/wp-json\/wp\/v2\/fra_news_taxonomy?post=23968739"},{"taxonomy":"news_paper_taxonomy","embeddable":true,"href":"https:\/\/fra.gov.eg\/en\/wp-json\/wp\/v2\/news_paper_taxonomy?post=23968739"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}