Three Non-Life Insurance Policies Approved In September: EFSA

Three non-life insurance policies were approved in September, while seven non-life insurance policies were approved in August, according to a report released by the Egyptian Financial Supervisory Authority (EFSA).

The regulator approved 48 group life insurance policies in September, compared to 30 group life insurance policies in August. Two individual life insurance policies were approved in September, and no individual insurance policy was approved in August.

The examination authority of insurance policies conducted office examination at two insurance companies in September and 10 insurance companies in August, through reviewing the financial positions, final results and technical rates and indications of these insurance companies.

The examination authority conducted field examination at three insurance companies in September and four insurance companies in August. Two sudden field examinations were conducted in September, while no sudden field examination was approved in August.

The number of registered insurance companies and cooperative insurance societies does not change in September as they are still 29. The number of insurance pools does not change as they are four ones. In addition, the number of government insurance funds is four.