The insurance market is regulated and supervised by Law No. 10 of 1981 and its amendments (Law No. 156 of 1998 and Law No. 91 of 1995). Since 1996, insurance fees have been almost entirely eliminated, thereby reducing insurance premiums significantly. According to this Law, the private sector is permitted to own up to 100% of the shares of an Egyptian insurance company that is fully owned by the government. This provision applies to both local and foreign private investors. The Egyptian Insurance Supervisory Authority (EISA) supervises and controls insurance activities in Egypt and its main duties are to protect the rights of policyholders, beneficiaries and third parties, and to maintain law and order in the market.
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