The Financial Regulatory Authority (FRA) has approved GIG Insurance-Egypt's capital increase, amounting to EGP150m ($2.97m).
Under this, the insurance company’s authorised capital is set at EGP1bn ($19.8m), while the issued and paid-up capital is set at EGP800m, distributed over 8m shares with a nominal value of EGP100 per share.
The capital increase was paid in full from the profits of the financial year ended 31 December 2025 in the form of bonus shares distributed to shareholders.
The parent company, Kuwait’s Gulf Insurance Group (GIG), commands a stake of 98.66% in GIG-Egypt, while several Egyptian shareholders own the remaining combined 1.34%.
The FRA’s decision is published on GIG-Egypt’s website as well as the regulator’s website.
GIG-Egypt, the third largest non-life insurer in the country in terms of premium income, has met the minimum capital requirements under the Unified Insurance Law ahead of the deadline for compliance. The required minimum capital for insurers is EGP400m in the first stage and EGP600m in the second stage.
In early 2025, GIG-Egypt increased its paid-up capital to EGP600m following its takeover of AIG Egypt and subsequent merger.