Egypt's Financial Regulatory Authority (FRA) Chairman Mohamed Farid met with representatives from Jefferies, one of the world's leading full-service investment banking and capital markets firms, as well as international investors in London during a roadshow organised by the British Egyptian Business Association (BEBA), where he highlighted recent reforms in the insurance sector. Farid said the sector is seeing rapid development following the Unified Insurance Act issued in July 2024, which expanded investment options for insurers and private funds to include metals, listed equity, venture capital, and real estate. The FRA also mandated new investment allocations and raised capital requirements to 600 million Egyptian pounds in two phases. Additional reforms include updated reserve frameworks, expanded microinsurance coverage, and streamlined licensing rules. Farid stressed the FRA's focus on digital transformation, enabling electronic issuance of standard policies and implementing fintech regulations to improve sector efficiency and support financial inclusion. Attribution: Amwal Al Ghad English Subediting: M. S. Salama
