Minister of Investment and Foreign Trade Mohamed Farid said that the insurance sector has become a fundamental pillar for supporting economic growth and sustainable development, evolving from a risk-management tool into a key driver of investment and financial stability.
Speaking at the opening of the 52nd conference of the African Insurance Organization (AIO) in Cairo on Sunday, June 7, 2026, Farid said that the insurance industry now plays a central role in boosting national savings, expanding investment and reinforcing economic and social stability.
The minister noted that Egypt has implemented a comprehensive program over the past four years to reform and develop the insurance sector. The program included strengthening governance, improving management efficiency, enhancing companies’ financial solvency, modernizing legislative and regulatory frameworks, expanding digital transformation and building human capital.
Farid said these reforms have helped increase the investments of insurance companies in capital markets, contributing to greater activity on the Egyptian stock exchange, improved market liquidity and stronger investor appetite for new listings by both the public and private sectors.
He highlighted Misr Life Insurance as one of the most anticipated upcoming offerings. The Minister stressed that the government remains committed to enhancing the role of the private sector, noting that private investment now accounts for 59% of total investments, compared with a historical average of 42%, while the market capitalization of the Egyptian stock exchange has more than doubled to exceed EGP 3.8 trillion.
Farid also emphasized that digital transformation, data development and the preparation of a new generation of actuaries and insurance experts are essential to ensuring the sustainability and growth of Egypt’s insurance industry. He added that expanding insurance inclusion will be a key priority in the coming period to broaden economic protection for citizens.
On regional cooperation, the Minister said that African insurance markets offer significant opportunities and that Egypt is working to strengthen integration among African countries in the sector. He pointed to an initiative to establish an African investment fund in partnership with the Sovereign Fund of Egypt and private-sector partners to support growth sectors across the continent, including education, pharmaceuticals and financial services.
Farid concluded by saying that Africa’s future depends not only on abundant resources, but also on strong institutions and effective partnerships. He reaffirmed Egypt’s commitment to enhancing regional cooperation and advancing the insurance industry in support of development and stability across the continent.
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