Egypt Eliminates Individual Approval for Standard Insurance Policies
The Financial Regulatory Authority issued Circular No. 8 of 2026, allowing insurance companies to use standardized templates for property and casualty insurance without separate approval for each policy.
Egypt's Financial Regulatory Authority issued Circular No. 8 of 2026, allowing insurance companies to use standardized templates for property and casualty insurance policies approved through the Insurance Federation of Egypt, according to Fintech Gate.
Under the circular, companies no longer need separate approval for each individual policy, following prior notification and submission of a signed compliance declaration.
Life insurance policies and insurance fund establishment forms were exempted from this facilitation, remaining subject to previous procedures.
Any amendment to the policies still requires the Authority's approval in accordance with Unified Insurance Law No. 155 of 2024, at a time when Egypt seeks to accelerate financial services and reduce administrative burdens on companies.
What Do These Terms Mean?
Circular: A regulatory decision issued by a supervisory body to compel companies to apply specific rules.
Property and Casualty Insurance: Insurance that protects assets and property and covers liability for damages that may be caused to third parties.
Unified Insurance Law: A legislative framework consolidating the rules regulating the insurance sector in Egypt into a single law.
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