Dr Islam Azzam, vice chairman of the Financial Regulatory Authority (FRA), has said that the draft comprehensive insurance law is scheduled to be discussed in the plenary session of the House of Representatives within two months.
The total surplus from insurance activity for insurance companies in Egypt jumped by 53.6% to reach EGP8.6bn ($278.3m) in the fiscal year ended 30 June 2022 (FY2022), compared to EGP5.6bn in FY2021, Dr Mohamed Farid, chairman of the Financial Regulatory Authority (FRA) has revealed.
Wafacash, which offers payments services, has launched microinsurance products, being one of the first few entities in Morocco to distribute such plans.
Statistics released by the Financial Supervisory Commission (FSC) show that 28 insurance companies engaged in microinsurance business while 16 life insurers offered small-amount wholelife insurance as of 31 December 2022.
The entry of new players into the Indian insurance market is needed so that every citizen has insurance cover, according to Mr Debasish Panda, IRDAI chairman.
Bank Negara Malaysia (BNM) has released a discussion paper on its proposed Financial Inclusion Framework 2023-2026.
Maroc Traitement de Transactions (M2T), the payment unit of the BCP group, has just obtained authorisation from the insurance regulator Insurance and Social Welfare Supervisory Authority (ACAPS) to market microinsurance products.
The Insurance Federation of Egypt (IFE) has signed a cooperation pact with the Luxembourg-based Microinsurance Network.
The Insurance Federation of Egypt (IFE), which is promoting microinsurance, has addressed the need to study microinsurance customers, explaining that comprehensive knowledge of customers is a prerequisite for sustainable market development.
The Insurance and Social Welfare Supervisory Authority (ACAPS) has submitted the first draft of proposed microinsurance regulations to the Ministry of Economy and Finance.