Egypt - Assistance with Insurance Sector Reform

Overview
Project Summary Document

TCRS 22677

Status TC Com approved

Location

Egypt

Business Sector

Financial Institutions

Notice Type

Public

PSD Disclosed

21 Nov 2025

Project Description

EBRD is seeking to contribute to the ongoing efforts of Egyptian financial authorities on the reform of their insurance sector. In late May 2024, the Egyptian House of Representatives approved the unified insurance law. The project aims to provide assistance and advisory to Egypt’s Financial Regulatory Authority (FRA) on the design and implementation of a new insurance sector regime based on risk-based solvency regulation and supervision (RBS).

Enquiries

Business opportunities

For business opportunities or procurement, contact the client company.

For business opportunities with EBRD (not related to procurement) contact:

Tel: +44 20 7338 7168
Email: projectenquiries@ebrd.com

For state-sector projects, visit EBRD Procurement:

Tel: +44 20 7338 6794
Email: procurement@ebrd.com

General enquiries

Specific enquiries can be made using the EBRD Enquiries form.

TCRS 22677

Status TC Com approved

Location

Egypt

Business Sector

Financial Institutions

Notice Type

Public

PSD Disclosed

21 Nov 2025

Project Description

Rationale

The transition to an RBS regime is a complex undertaking that requires dedicated resources, including advanced information technology (IT) systems, and a clear plan with milestones and timelines for the authorities and insurance sector players.

The two models under FRA’s consideration are understood to be (i) Solvency II, the prudential regime for insurance and reinsurance undertakings in the European Union (EU) that went into force in 2016 and was amended in January 2025, and (ii) the Insurance Core principles (ICPs) relevant to RBS, adopted by the International Association of Insurance Supervisors (IAIS) in October 2011 and amended several times; and the Insurance Capital Standard (ICS), a globally comparable risk-based measure of capital adequacy for Internationally Active Insurance Groups (IAIGs), adopted by the IAIS in December 2024.

FRA has communicated its needs for technical cooperation, starting with a fundamental exercise on determining an appropriate risk-based regulatory and supervisory model tailored for the Egyptian insurance market.

TC Services

The overall objective of this project is to provide the FRA with assistance and advisory on the identification of a suitable solvency framework for the Egyptian insurance sector, which will strengthen consumer protection, modernise insurance supervision and increase the resilience of the Egypt’s insurance sector. The specific objectives of the project are: a) to conduct a gap analysis between the existing regulations and solvency model of the Egyptian insurance sector, the EU’s Solvency II Directive and the IAIS’s ICPs and ICS, (b) to provide a high-level, preliminary analysis of possible market impacts of the conversion from the existing solvency framework to Solvency II or ICPs and ICS, and (c) to draft a Recommendations Report with recommendations building towards a proposed solvency framework for Egypt.

Any competitive selections for business opportunities relating to this project will be published on the EBRD's website: Consultancy Procurement Opportunities.

General enquiries

EBRD project enquiries not related to procurement:
Tel: +44 20 7338 7168
Email: projectenquiries@ebrd.com

Access to Information Policy (AIP)

The AIP sets out how the EBRD discloses information and consults with its stakeholders so as to promote better awareness and understanding of its strategies, policies and operations following its entry into force on 1 January 2020. Please visit the Access to Information Policy page to find out what information is available from the EBRD website.

Specific requests for information can be made using the EBRD Enquiries form

Independent Project Accountability Mechanism (IPAM)

If efforts to address environmental, social or public disclosure concerns with the Client or the Bank are unsuccessful (e.g. through the Client’s Project-level grievance mechanism or through direct engagement with Bank management), individuals and organisations may seek to address their concerns through the EBRD’s Independent Project Accountability Mechanism (IPAM).

IPAM independently reviews Project issues that are believed to have caused (or to be likely to cause) harm. The purpose of the Mechanism is: to support dialogue between Project stakeholders to resolve environmental, social and public disclosure issues; to determine whether the Bank has complied with its Environmental and Social Policy or Project-specific provisions of its Access to Information Policy; and where applicable, to address any existing non-compliance with these policies, while preventing future non-compliance by the Bank.

Please visit the Independent Project Accountability Mechanism webpage to find out more about IPAM and its mandate; how to submit a Request for review; or contact IPAM via email ipam@ebrd.com to get guidance and more information on IPAM and how to submit a request.

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Egypt - Assistance with Insurance Sector Reform

Project Description

Enquiries

Business opportunities

General enquiries

Project Description

General enquiries

Access to Information Policy (AIP)

Independent Project Accountability Mechanism (IPAM)