In the Egyptian market this step was not taken until a group of prominent Egyptian brokers encouraged by the president of the Egyptian supervising authority Dr Mohamed Youssef (currently head of the Misr Holding insurance co) gathered to form EIBA” the Egyptian insurance brokers association in 6/11/2005 under the decree #2488 By the ministry of social affairs, EIBA head office is located in #28 Iraq street in Mohandessin district of Giza in Egypt ,EIBA board was then
. 1- Adel Shaker Wahba as president 2- Dr Walid Ibrahim Auf as vice president 3- Mr Hossam A Rehim as secretary general 4- Mr Ossama Alfonse as board member 5- Mrs Josian Hakim as board member 6- Mrs Rabab El Biar as board memberAttorney Hisham Ismail was the attorney at law for the founding members and the manager of the association .
The Egyptian Insurance Brokers Association EIBA founded in 2005, is the first gathering of insurance brokers in the Egyptian insurance history since the insurance market began a century and a half ago.(source :Insurance industry in Egypt, by the Egyptian insurance federation 2014)
The association is currently representing the Arab Republic of Egypt brokers market in the international markets and is a board member of the Mediterranean brokers federation FMBA www.fmba.info as well as the Arab league brokers part of the GAIF www.gaif-1.org .
The members of the association are a permanent part of all seminars organized by the Egyptian Insurance federation and the Egyptian financial supervisory authority.
Members of the association are involved in the drafting of all decisions and regulations related to the profession of mediation issued by the Egyptian financial Supervisory Authority and the Egyptian Insurance Federation
The Egyptian insurance brokers association has drafted a unified contract between brokers and insurance companies which was revised with the Egyptian Insurance federation EIF and expected to apply by the beginning of 2015.
Members of the association are selected to be in all consultancy committees formed by the Egyptian Financial supervisory authority EFSA working on amending the insurance act and the broker’s legislation.
The association revises any resolution or verdict effecting brokers and issued by any party, and takes any necessary action against it in coordination with the EIF and the EFSA.
The Egyptian Insurance Brokers association has drafted the statute of the Egyptian Federation of Insurance intermediaries, which will be representing all insurance intermediaries in the new amendment to the insurance act# 10 for the year 1981which will apply in 2015.
EIBA has drafted protocol agreement with the institute of financial studies as a goal to allow intermediaries to choose some training courses organized by the institute to replace the actual mandatory training program
03 November 2014
Was held on Nov 3,2014 at the Cairo Marriot hotel and sponsored by CIL life ins co and the guest of honor Was Mr Abdul Raouf Kotb the president of the Egyptian insurance federation .
07 August 2014
The Egyptian association for insurance brokers participated in the semi annual general assembly of the Federation of Mediterranean countries insurance brokers in Milan 7-8 Nov 2014,and was represented by an official delegation headed by Mr.Adel Shaker the president of the association who’s the vice president of the Mediterranean federation ,and Dr Walid Auf the managing director of Medmark Egypt and Mr Karim Abbasi the board member of EIBA .
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