The Financial Regulatory Authority (FRA) has extended the deadline for companies operating in the insurance and reinsurance brokerage sector, as well as firms specializing in loss assessment, inspection, and insurance consultancy, to raise their capital by an additional six months, until June 2026.
According to a statement issued Sunday, the FRA requires insurance and reinsurance brokerage firms to increase their capital to a minimum of EGP 5 million, while risk assessment, loss inspection, insurance consultancy, and actuarial expertise firms must raise their capital to a minimum of EGP 3 million.
The new decision obliges companies to prepare a timeline outlining the stages of capital increase and submit it to the FRA within one month of the publication date.
The authority also prohibited the distribution of any cash dividends to shareholders until the minimum capital requirements are fully met and FRA approval is obtained.
The FRA said the extension aims to give companies sufficient time to meet the minimum capital requirements, strengthening their financial positions and ensuring stability in the sector.
