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EGYPTIAN INSURANCE BROKER'S ASSOCIATION
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EGYPTIAN INSURANCE BROKER'S ASSOCIATION

In many mature insurance markets ,the brokers have established associations and federations to represent them and to develop their profession.

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

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                        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 member
Attorney Hisham Ismail was the attorney at law for the founding members and the manager of the association .

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board

Of Directors

Current Egyptian insurance brokers association board of directors
MR. Adel Shaker
Mrs. Magda Al Sayegh
Chairman of the Board of Directors
Member of the Board of Directors
Mr. Mahmoud Orabi
Mr Hazem Dawood
Secretary-General
Vice President of the Association
Mr Ahmad Najib
Mr Ahmed Farag
Treasurer
Member of the Board of Directors
Mrs Maysa Bakr
Mr Kareem Abbasi
Member of the Board of Directors
Member of the Board of Directors
Mr Saeed Darder
Member of the Board of Directors
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  Our

Achievement

The achievements of the Egyptian Association for Insurance Brokers
ACHIEVEMENTS

  • 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

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