As part of the ongoing efforts of the General Authority for Financial Supervision to facilitate procedures and develop supervisory work mechanisms, the Authority decided to restructure the documentary cycle for the work of the Central Administration for the Approval of Insurance Products.

This comes in response to the outcomes of the community dialogue it conducted with insurance companies operating in the Egyptian market, which contributes to simplifying the procedures for approving insurance products, and raising the efficiency and speed of their completion, while maintaining the necessary regulatory controls and protecting the rights of insurance policyholders.

Dr. Islam Azzam, Chairman of the Authority, issued Circular No. (8) of 2026, regarding the regulation of procedures for using standard insurance document forms approved by the Authority, within the framework of its strategy aimed at facilitating transactions, simplifying procedures and raising the efficiency of the environment for practicing non-banking financial activities.

The regulatory measure issued aims to reduce the procedural burdens on insurance companies by allowing the use of property and liability insurance policy forms provided by the Egyptian Insurance Federation and approved by the Authority, without the need for each company to obtain independent approval for the same form, provided that there is full compliance with the approved form, with the exclusion of personal insurance and savings policies from the scope of this regulation.

The new regulation allows companies to use the approved form after notifying the Authority in advance, and attaching a declaration signed by the company’s legal representative that includes full commitment to the form and its approved terms, provided that the use begins on the date after the notification is received by the Authority and the date specified for the start of use, without the need to wait for additional approval from the Authority.

At the same time, the circular emphasizes the responsibility of companies for the accuracy of the declarations submitted by them and the conformity of the documents issued by them to the approved forms, with the necessity of notifying the Authority and obtaining its approval before applying any addition, deletion or modification to the forms or their conditions, in accordance with the provisions of the Unified Insurance Law No. (155) of 2024.

Dr. Islam Azzam, Chairman of the Financial Regulatory Authority, affirmed that the Authority’s role balances facilitating procedures for companies and monitoring their compliance with the rules regulating the activity, in order to ensure the protection of the rights of insurance policyholders.

From this standpoint, the Authority is working to develop regulatory frameworks to ensure efficient practice of the activity, while preserving the rights of customers and enhancing confidence in the insurance market.

It is worth mentioning that, within the framework of implementing the integrated strategy for developing the product approval process, the supervision of the administration was assigned to Ms. Abeer Helmy Saleh, Advisor to the Chairman of the Authority for Insurance Affairs, in addition to her work duties. She is assisted by two specialized staff members at the level of Director General, namely Dr. Noha Mohamed, who is responsible for approving property and liability insurance products, and Dr. Walid Fathi, who is responsible for approving life insurance and savings products.

The Authority is currently studying the non-collective marine insurance conditions in order to establish regulatory foundations for dealing with them in a way that allows for the greatest possible flexibility in the insurance market, without compromising the requirements for protecting customers, the readiness of the market, and the necessary requirements for transparency and integrity.

The Authority confirms that the effect of this circular is limited to the adoption of the forms and their conditions, and does not affect the obligations of companies related to pricing or the requirements of electronic issuance, or the Authority’s powers of review, supervision and taking legally prescribed actions.