{"id":575374,"date":"2020-10-13T04:34:00","date_gmt":"2020-10-13T04:34:00","guid":{"rendered":"https:\/\/enterpriseam.com\/egypt\/2020\/10\/13\/four-insurance-company-license-applications-under-review-from-egypts-regulator\/"},"modified":"2020-10-13T04:34:00","modified_gmt":"2020-10-13T04:34:00","slug":"four-insurance-company-license-applications-under-review-from-egypts-regulator","status":"publish","type":"post","link":"https:\/\/enterpriseam.com\/egypt\/2020\/10\/13\/four-insurance-company-license-applications-under-review-from-egypts-regulator\/","title":{"rendered":"Four insurance company license applications under review from Egypt\u2019s regulator"},"content":{"rendered":"

Four more companies are looking to enter the insurance market <\/strong>and have license applications under review at the Financial Regulatory Authority (FRA), deputy head of the authority Reda Abdel Moaty told Hapi Journal<\/a> on the sidelines of the Regional Forum for Medical Insurance and Healthcare<\/a>. Under the universal healthcare act, new medical insurance companies can launch starting capital of EGP 60 mn, while healthcare management companies require at least EGP 15 mn, Abdel Moaty said.<\/p>\n

We\u2019re still waiting for details on how private sector insurers will fit into the universal health insurance system:<\/strong> A Health Ministry official last month revealed<\/a> that forthcoming legislative amendments will clarify the role of the private sector in the system, almost three years after the Universal Healthcare Act was voted through parliament<\/a>. No further details on what we can expect from the amendments were revealed at the conference yesterday.<\/p>\n

Background: <\/strong>FRA head Mohamed Omran urged insurance companies to submit proposals that outline how they could contribute to the system, while Finance Minister Mohamed Maait reiterated that the changes would allow private sector healthcare players to be involved<\/a> in both providing medical services and managing the government\u2019s system of universal health coverage. The system, launched in Port Said last year and will soon roll out in Luxor and Ismailia. All governorates should be covered under the system within 12 years.<\/p>\n","protected":false},"excerpt":{"rendered":"

Four more companies are looking to enter the insurance market and have license applications under review at the Financial Regulatory Authority (FRA), deputy head of the authority Reda Abdel Moaty told Hapi Journal on the sidelines of the Regional Forum for Medical Insurance and Healthcare. Under the universal healthcare act, new medical insurance companies can […]<\/p>\n","protected":false},"author":1,"featured_media":575375,"comment_status":"closed","ping_status":"open","sticky":false,"template":"single-feature.php","format":"standard","meta":{"_acf_changed":false,"newspack_ads_suppress_ads":false,"newspack_popups_has_disabled_popups":false,"newspack_sponsor_sponsorship_scope":"","newspack_sponsor_native_byline_display":"inherit","newspack_sponsor_native_category_display":"inherit","newspack_sponsor_underwriter_style":"inherit","newspack_sponsor_underwriter_placement":"inherit","ep_exclude_from_search":false,"_primary_brand":0,"newspack_featured_image_position":"","newspack_post_subtitle":"","newspack_article_summary_title":"Overview:","newspack_article_summary":"","newspack_hide_updated_date":false,"newspack_show_updated_date":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[8572],"tags":[72,76,7115,181,180,2380,4175],"brand":[],"newspack_spnsrs_tax":[],"class_list":["post-575374","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-speed-round","tag-enterpriseam","tag-financial-regulatory-authority","tag-healthcare","tag-insurance","tag-legislation","tag-speed-round","tag-universal-healthcare-act","wpautop","entry"],"acf":{"mongo_id":"3b59f0ea-3c8f-47f2-8614-335b8efcd7ae","is_powered_by":true,"section_story_id":"c6fcfda5-ec3d-4379-9cb7-c5d9d3979368","story_type":"1","photo_url":"https:\/\/ent.news\/2020\/10\/128.jpg","photo_position":"above","related_issue":[575355],"teaser":"","voice_url":""},"yoast_head":"\nFour insurance company license applications under review from Egypt\u2019s regulator - EnterpriseAM Egypt<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/enterpriseam.com\/egypt\/2020\/10\/13\/four-insurance-company-license-applications-under-review-from-egypts-regulator\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Four insurance company license applications under review from Egypt\u2019s regulator\" \/>\n<meta property=\"og:description\" content=\"Four more companies are looking to enter the insurance market and have license applications under review at the Financial Regulatory Authority (FRA), deputy head of the authority Reda Abdel Moaty told Hapi Journal on the sidelines of the Regional Forum for Medical Insurance and Healthcare. Under the universal healthcare act, new medical insurance companies can […]\" \/>\n<meta property=\"og:url\" content=\"https:\/\/enterpriseam.com\/egypt\/2020\/10\/13\/four-insurance-company-license-applications-under-review-from-egypts-regulator\/\" \/>\n<meta property=\"og:site_name\" content=\"EnterpriseAM Egypt\" \/>\n<meta property=\"article:published_time\" content=\"2020-10-13T04:34:00+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/i0.wp.com\/ent.news\/2020\/10\/128.jpg?fit=%2C&ssl=1\" \/>\n<meta name=\"author\" content=\"enterpriseam admin\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:label1\" content=\"Written by\" \/>\n\t<meta name=\"twitter:data1\" content=\"enterpriseam admin\" \/>\n\t<meta name=\"twitter:label2\" content=\"Est. reading time\" \/>\n\t<meta name=\"twitter:data2\" content=\"1 minute\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\/\/schema.org\",\"@graph\":[{\"@type\":\"Article\",\"@id\":\"https:\/\/enterpriseam.com\/egypt\/2020\/10\/13\/four-insurance-company-license-applications-under-review-from-egypts-regulator\/#article\",\"isPartOf\":{\"@id\":\"https:\/\/enterpriseam.com\/egypt\/2020\/10\/13\/four-insurance-company-license-applications-under-review-from-egypts-regulator\/\"},\"author\":{\"name\":\"enterpriseam admin\",\"@id\":\"https:\/\/enterpriseam.com\/egypt\/#\/schema\/person\/ca597032db7e4db868359c123cec256d\"},\"headline\":\"Four insurance company license applications under review from Egypt\u2019s regulator\",\"datePublished\":\"2020-10-13T04:34:00+00:00\",\"mainEntityOfPage\":{\"@id\":\"https:\/\/enterpriseam.com\/egypt\/2020\/10\/13\/four-insurance-company-license-applications-under-review-from-egypts-regulator\/\"},\"wordCount\":234,\"publisher\":{\"@id\":\"https:\/\/enterpriseam.com\/egypt\/#organization\"},\"image\":{\"@id\":\"https:\/\/enterpriseam.com\/egypt\/2020\/10\/13\/four-insurance-company-license-applications-under-review-from-egypts-regulator\/#primaryimage\"},\"thumbnailUrl\":\"https:\/\/i0.wp.com\/ent.news\/2020\/10\/128.jpg?fit=%2C&ssl=1\",\"keywords\":[\"EnterpriseAM\",\"Financial Regulatory Authority\",\"healthcare\",\"insurance\",\"legislation\",\"SPEED ROUND\",\"Universal Healthcare Act\"],\"articleSection\":[\"Speed Round\"],\"inLanguage\":\"en-US\"},{\"@type\":\"WebPage\",\"@id\":\"https:\/\/enterpriseam.com\/egypt\/2020\/10\/13\/four-insurance-company-license-applications-under-review-from-egypts-regulator\/\",\"url\":\"https:\/\/enterpriseam.com\/egypt\/2020\/10\/13\/four-insurance-company-license-applications-under-review-from-egypts-regulator\/\",\"name\":\"Four insurance company license applications under review from Egypt\u2019s regulator - 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The planned changes are meant to close regulatory loopholes that have\u2026","rel":"","context":"In "Speed Round"","block_context":{"text":"Speed Round","link":"https:\/\/enterpriseam.com\/egypt\/category\/speed-round\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/ent.news\/internal\/536550.png?resize=350%2C200&ssl=1","width":350,"height":200},"classes":[]},{"id":624707,"url":"https:\/\/enterpriseam.com\/egypt\/2018\/09\/17\/fra-to-complete-insurance-act-draft-this-month-expects-to-send-it-to-cabinet-by-december\/","url_meta":{"origin":575374,"position":2},"title":"FRA to complete Insurance Act draft this month, expects to send it to cabinet by December","author":"enterpriseam admin","date":"17 September 2018","format":false,"excerpt":"**#3 LEGISLATION WATCH- Insurance will be mandatory for everything under the sun as part of draft Insurance Act now being finalized: The Financial Regulatory Authority is expected to complete a draft of the new Insurance Act and submit it to the board for approval before the end of this month,\u2026","rel":"","context":"In "Speed Round"","block_context":{"text":"Speed Round","link":"https:\/\/enterpriseam.com\/egypt\/category\/speed-round\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/ent.news\/internal\/536550.png?resize=350%2C200&ssl=1","width":350,"height":200},"classes":[]},{"id":601151,"url":"https:\/\/enterpriseam.com\/egypt\/2019\/02\/20\/companies-operating-in-usd-to-be-granted-option-to-pay-0-25-healthcare-tax-in-usd\/","url_meta":{"origin":575374,"position":3},"title":"Companies operating in USD to be granted option to pay 0.25% healthcare tax in USD","author":"enterpriseam admin","date":"20 February 2019","format":false,"excerpt":"EXCLUSIVE- Companies operating in USD can pay 0.25% healthcare tax in USD or EGP: Foreign companies operating in Egypt, and those domiciled in Egypt but presenting their financial statements in USD, will be allowed to pay the 0.25% healthcare tithe this year in EGP or USD, a senior government source\u2026","rel":"","context":"In "Speed Round"","block_context":{"text":"Speed Round","link":"https:\/\/enterpriseam.com\/egypt\/category\/speed-round\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/ent.news\/internal\/536550.png?resize=350%2C200&ssl=1","width":350,"height":200},"classes":[]},{"id":595080,"url":"https:\/\/enterpriseam.com\/egypt\/2019\/09\/16\/egypts-regulator-to-hand-new-insurance-act-to-cabinet-this-week\/","url_meta":{"origin":575374,"position":4},"title":"Egypt\u2019s regulator to hand new Insurance Act to cabinet this week","author":"enterpriseam admin","date":"16 September 2019","format":false,"excerpt":"LEGISLATION WATCH- Insurance Act to make its way to Cabinet this week: The Financial Regulatory Authority (FRA) will hand over the final draft of the new Insurance Act, which will grant the authority more oversight over the insurance industry, to the Madbouly Cabinet for approval this week, FRA deputy head\u2026","rel":"","context":"In "Speed Round"","block_context":{"text":"Speed Round","link":"https:\/\/enterpriseam.com\/egypt\/category\/speed-round\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/ent.news\/internal\/536550.png?resize=350%2C200&ssl=1","width":350,"height":200},"classes":[]},{"id":634702,"url":"https:\/\/enterpriseam.com\/egypt\/2018\/01\/22\/fra-drafting-insurance-act-80-done-with-capital-market-act-regs\/","url_meta":{"origin":575374,"position":5},"title":"FRA drafting Insurance Act, 80% done with Capital Market Act regs","author":"enterpriseam admin","date":"22 January 2018","format":false,"excerpt":"LEGISLATION WATCH- The Financial Regulatory Authority (FRA) is drafting an all-encompassing Insurance Act. 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