Egypt’s FRA sets first rules for foreign insurance representative offices
Egypt’s Financial Regulatory Authority (FRA) has issued its first comprehensive regulatory framework governing the licensing and registration of representative offices of foreign insurance and reinsurance companies, the authority said on Thursday. The move is aimed at boosting the competitiveness of the local insurance market and attracting international expertise.
Under Decision No. 321 of 2025, foreign companies seeking to open a representative office in Egypt must be supervised by a regulatory authority equivalent to the FRA in their home country and submit a formal undertaking confirming that authority’s approval to expand into Egypt.
The decision strictly limits the activities of representative offices to market studies, public relations and communications, positioning them as a technical liaison with the foreign parent company. It prohibits representative offices from engaging in any direct or indirect insurance or reinsurance activity.
Licensed representative offices will be entered into a dedicated FRA register, which will include details of the foreign company and its representative office, the start date of operations and information on the appointed responsible manager.
Applicants must submit a licence request using the FRA’s approved form, along with supporting documents including the foreign company’s name and headquarters, the address of the representative office in Egypt, translated articles of association and audited financial statements for the previous two financial years.
Additional requirements include appointing a responsible manager with at least five years of experience in insurance, submitting a report outlining the office’s objectives, feasibility, strategy, business plan, organisational structure and staffing, as well as any available credit rating. Applicants must also commit to complying with Egyptian laws and relevant regulatory decisions.
The FRA said it will review complete licence applications within 30 days and retains the right to conduct on-site inspections of representative office premises. Registration must be renewed annually, with renewal requests submitted at least two months before expiry and accompanied by an annual activity report.
Companies are required to notify the FRA within 10 days of any changes to company or office data, including changes in management or address, and to give at least two months’ notice before ceasing operations.
The decision grants existing representative offices a six-month grace period to regularise their status from the date the rules take effect. The FRA said representative offices will remain subject to ongoing supervision and may be removed from the register at the company’s request, in cases of unresolved regulatory breaches after 30 days’ notice, or if renewal deadlines are missed.