Egypt’s Financial Regulatory Authority (FRA) has amended regulations for insurance and reinsurance brokerage firms, removing a requirement to open at least two branches within three years of starting operations. The FRA said that the requirement was dropped after practical experience showed that insurance brokerage firms do not always need a wide physical branch network, particularly as technology and digital service channels have expanded.
The regulator said mandatory expansion could impose unnecessary financial and administrative costs on companies whose business models do not require additional branches. The amendments also prevent insurance consultants from holding executive management positions at insurance or reinsurance brokerage companies.
The change is intended to maintain a clear separation between brokerage and consultancy activities and prevent potential conflicts of interest. The measure follows FRA regulations issued in 2026 that prohibit individuals seeking registration as insurance consultants from also being registered as insurance brokers.
For his part, FRA Chairman Islam Azzam said that the removal of the branch requirement would give brokerage companies greater flexibility to manage their resources and determine expansion plans based on their business models and customer needs. The amendments are part of the regulatory framework under Egypt’s Unified Insurance Law No.
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