Financial Control Authority: Extends regularization period for private insurance funds until December 31 next year
Cairo - Nadeh Imam
The Board of Directors of the General Authority for Financial Supervision (GAFI), chaired by Dr. Islam Azam, issued a decision extending the deadline for private insurance funds to align their status with the Unified Insurance Law until December 31, 2026. This deadline, which ends at the close of the current year, applies exclusively to private insurance funds. As for other companies and entities subject to the provisions of Unified Insurance Law No. (155) of 2024, the Board of Directors had previously issued Decision No. (145) of 2026, extending their compliance deadline until July 11, 2027. However, this extension does not apply to other dates and periods stipulated by the Authority’s regulatory decisions for aligning operations in specific insurance sectors, which involve multiple conditions.
The Authority’s Chairman stated that private insurance funds are among the most important tools for social protection, offering savings and insurance benefits as well as supplementary pensions. These funds contribute to expanding social safety nets and supporting citizens’ financial stability. The Authority’s regulatory decisions work in tandem with the Unified Insurance Law to enhance the performance of these funds and improve disclosure and transparency standards in their management.
He clarified that the decision to extend the deadline for private insurance funds aims to facilitate their alignment and the amendment of their bylaws in accordance with the new legislative and regulatory framework governing the sector. This ensures compliance with the decisions and executive controls issued by the Authority to develop fund performance and protect members’ rights.
He pointed to the Authority’s recent decisions aimed at developing the sector, most notably the amendment of investment rules for private insurance funds under Board Decision No. (269) of 2024. This decision seeks to balance maximizing real returns for beneficiaries with risk diversification, while introducing new investment instruments that allow funds to gradually transition from fixed-income tools to diversified and flexible portfolios.
According to the Authority’s latest reports, new investments by private insurance funds from January to May 2026 reached approximately EGP 16.5 billion, representing an increase of about 51% compared to the same period last year. These investments are diversified across bank certificates, deposits, investment fund units, treasury bills, and government bonds.
