The Insurance Federation of Egypt aims at strengthening the ties between insurance and reinsurance companies governed by the provisions of Law No. 10/1981 concerning the supervision and control over insurance in Egypt, coordinating and preventing the conflict between these companies with the aim of protecting their interests and develop and enhance the industry of insurance in Egypt in the manner that coincides with the provisions of the said Law and its Executive Regulations.
History
The Insurance Federation of Egypt was formed in the early fifties, comprising most of the Egyptian and foreign insurance companies of the market, which then amounted to 106 companies.
- On the year 1952 an Association of Insurance Federations in Egypt was established, and the Insurance Federation of Egypt was formally set on the year 1953.
- On the year 1956 a Ministerial Decree was issued canceling the registered branches of English , French and Australian insurance Companies , which comprised only the Egyptian insurance companies as member with a number of 13 companies.
- On the year 1977 the Insurance Federation of Egypt was admitted and established , as well as registered at the Egyptian Insurance Supervision Authority holding No. 1 for the year 1982 , Its Articles of Association was issued by a Ministerial Decree " Minister of Economy Decree No. 312 for the year 1982 " . It was lately modified and re-issued by the Ministry of Economy Decree No. 78/1998, and was in force effective from 15/3/1998.
- The Insurance Federation of Egypt Comprises nowadays 13 insurance and reinsurance licensed companies practicing in Egypt.
(last updated: 05-February-2007)
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Egypt \ Regulatory Economic Authorities \ Insurance Federation of Egypt
