QNB Life Insurance Secures Board Membership at the Insurance Federation of Egypt
QNB Life Insurance has won a seat on the Board of Directors of the Insurance Federation of Egypt (IFE) for the new term (2025–2029), represented by the company’s Managing Director, Amr El-Shemy.
The company, a subsidiary of QNB Alahli, was established in April 2003 and obtained license No. 19 for that year from the Financial Regulatory Authority (FRA).
The announcement came during the Federation’s General Assembly, recently convened with the participation of 38 out of 39 members, alongside representatives from the FRA and the Central Auditing Organization. The elections resulted in four seats being filled unopposed, while other seats were contested among companies operating in property, liability, and life insurance segments.
Earlier this year, QNB Life Insurance’s Board of Directors approved a capital increase, raising the company’s issued and paid-up capital to EGP 600 million in a single tranche. The move was made in line with the FRA’s directive for insurance companies to raise their capital base, signaling the company’s financial strength and readiness to expand its footprint in the Egyptian insurance market.