Egypt – Financial Authority consults Chinese regulator
Wednesday, 12 06 2017, Category: Insurance and Reinsurance, Country: Egypt
The Chairman of the Egyptian Financial Supervisory Authority, Dr. Mohamed Omran met a Chinese delegation headed by Mr. Huang Hong, vice chairman of the China Insurance Regulatory Commission in order to study cooperation possibilities and develop insurance relations between the two countries in the presence of the vice chairman of the Egyptian Financial Supervisory Authority, Mr. Reda Abdel Moaty.
Both parties agreed on Tuesday to prepare a bilateral agreement that would be signed in the first quarter of year 2018 in order to exchange information and expertise in the field of insurance and reinsurance regulation. They will also try to overcome the challenge of exchanging information between regulators following the European Union’s law on the protection of personal information that will be implemented in May 2018 and they will study its impact on international insurance and reinsurance companies that have branches in the European Union.