Creation of an Egyptian risk management department

The Egyptian Insurance Federation (EIFE) is setting up a risk management department which aims at supporting the insurers.

The department will bring its technical expertise to all local companies, particularly during the renewal of reinsurance treaties. It may also help Egyptian insurers to obtain a rating from an international agency.

According to the President of IFE, Alaa El-Zoheiry, the creation of this department goes hand in hand with the Financial Authority’s (FRA) will to implement this concept within the Egyptian insurance market.