The Insurance Federation of Egypt (IFE) is working with the Financial Regulatory Authority (FRA) to launch an index-based insurance product, according to Mr Alaa El-Zoheiry, IFE chairman.
He said this on the sidelines of the 6th Sharm Rendezvous held on 9–11 November 2024, adding that the product is expected to be launched in the following year.
He also said that the IFE and FRA are developing a new insurance pool to cover natural disasters which would be introduced shortly.
He added that the Federation had previously worked with the Authority on establishing two insurance pools, the first for compulsory vehicle insurance launched in 2019, and the other for travel, in 2021.