Insurance Union Chairman on 2024 Law Capital Increase
Alaa El Zahiri, head of the Egyptian Insurance Companies Union, confirmed that the Unified Insurance Law No. 155 of 2024 raised the minimum capital requirement for insurance companies from 60 million to 600 million pounds, thereby strengthening financial solvency and boosting investor confidence. The law also facilitated the establishment of specialized companies and the offering of low-cost insurance policies to serve low-income individuals. Additionally, it contributed to a consolidated market growth of over 440% since 2017, with an annual growth rate ranging between 18% and 22%.
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