Egypt’s Sky Insurance gets brokerage licence – sources

By Eslam Abdelhameed On Nov 18, 2019

Egypt’s market regulator FRA — Egypt's Financial Regulatory Authority (FRA) - previously the Egyptian Financial Supervisory Authority (EFSA)

Egypt’s Sky Insurance Brokerage has recently received a three-year licence for insurance brokerage activity, said senior officials at the Financial Regulatory Authority (FRA) on Monday.

“The new company has an issued capital worth around 2 million Egyptian pounds ($123,802),” the sources further told Amwal Al Ghad.

In October, three Egyptian insurance startups received a three-year licence for insurance brokerage activity from FRA.

The three companies are Optimum Performance Insurance, Osool Insurance Brokerage, and Alliant Insurance Services.