FRA Board of Directors, chaired by Dr. Islam Azzam, has issued several decisions extending the deadlines for insurance companies to increase their paid-up capital and align their operations with the legislative and regulatory framework.<\/p>\n
Under Decision No. 199 of 2026, FRA extended the deadline for all insurance companies and entities engaged in insurance-related professions to comply with Article 2 of Board Decision No. 196 of 2024\u2014which governs capital increases\u2014until July 2027. This extension coincides with the end of the third year of compliance grace period established by the Unified Insurance Law No. 155 of 2024.<\/p>\n
Meanwhile, Decision No. 200 of 2026 extends compliance deadline for risk assessment, inspection, and loss adjustment experts until July 10, 2027. This follows FRA Board Decision No. 54 of 2026 which established the terms and rules governing their activities.<\/p>\n
Risk assessment, inspection and loss adjustment constitute a vital insurance-related profession, for which the Unified Insurance Law introduced specific provisions to enhance its efficiency in line with global standards. Accordingly, FRA has established a robust framework of professional standards and behavioral controls for the sector. Foremost among these are strict adherence to integrity, impartiality and independence; the avoidance of conflicts of interest; and the mandatory documentation of information to ensure that all technical reports are grounded in objective, practical foundations.<\/p>\n
In a related context, Decision No. 212 of 2026 was issued to extend the grace period for insurance companies and Managing General Agents (MGAs) to comply with FRA Board Decision No. 55 of 2026 for an additional three months, ending on January 21, 2027.<\/p>\n
A Managing General Agent (MGA) is a legal entity authorized by reinsurance companies registered with FRA to provide services such as underwriting and claims settlement under a formal binding authority agreement that precisely defines the scope of granted powers and authorizes the agent to conclude contracts and deliver services on behalf of reinsurers. Under the aforementioned Board Decision No. 55 of 2026, FRA established a dedicated registry for MGAs for the first time and prohibited insurance companies operating in Egypt from dealing with unregistered agents, thereby enhancing transparency and facilitating supervisory oversight.<\/p>\n","protected":false},"author":7,"featured_media":25947656,"parent":0,"template":"","format":"standard","categories":[144],"tags":[3754,3791,5074,5898],"fra_news_taxonomy":[],"news_paper_taxonomy":[],"class_list":["post-26423841","fra_news","type-fra_news","status-publish","format-standard","has-post-thumbnail","hentry","category-press-releases","tag-insurance-companies","tag-financial-regulatory-authority-fra","tag-dr-islam-azzam-fra-chairman","tag-deadline-extension"],"_links":{"self":[{"href":"https:\/\/fra.gov.eg\/en\/wp-json\/wp\/v2\/fra_news\/26423841","targetHints":{"allow":["GET"]}}],"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\/7"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/fra.gov.eg\/en\/wp-json\/wp\/v2\/media\/25947656"}],"wp:attachment":[{"href":"https:\/\/fra.gov.eg\/en\/wp-json\/wp\/v2\/media?parent=26423841"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/fra.gov.eg\/en\/wp-json\/wp\/v2\/categories?post=26423841"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/fra.gov.eg\/en\/wp-json\/wp\/v2\/tags?post=26423841"},{"taxonomy":"fra_news_taxonomy","embeddable":true,"href":"https:\/\/fra.gov.eg\/en\/wp-json\/wp\/v2\/fra_news_taxonomy?post=26423841"},{"taxonomy":"news_paper_taxonomy","embeddable":true,"href":"https:\/\/fra.gov.eg\/en\/wp-json\/wp\/v2\/news_paper_taxonomy?post=26423841"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}