Egypt’s FRA to start Insurance Act draft discussion next week

LEGISLATION WATCH- FRA to put draft Insurance Act up for discussion next week: The Financial Regulatory Authority (FRA) has a draft of legislation that would regulate the insurance sector, FRA deputy head Reda Abdel Moaty announced, and will begin public consultations on the draft next week. A final draft will then go to the House of Representatives before the end of 2019. Announced earlier this year, the Insurance Act would make the FRA the primary regulator of the insurance sector, governing the establishment and licensing of insurance companies as well as setting industry standards and regulating transactions.