Egypt – Regulator tackles problems with brokers
Thursday, 02 02 2017, Category: Insurance and Reinsurance, Country: Egypt
Mr. Sherif Samy the chairman of the Egyptian Financial Supervisory Authority revealed the details of his meeting with the largest insurance brokers today, which lasted for 3 continuous hours, indicating that this meeting discussed numerous technical issues related to brokerage.
Moreover, Mr. Samy said that the most relevant issue was around the irregularities of the insurance brokers lately and the fines imposed on them, which were considered by brokers as unjustified. The irregularities covered issues such as the delay in preparing the quarterly reports and the final figures of activities within the legal deadlines.
Source: Al Mal News