According to Law No. 10 of 1981, insurance and reinsurance companies established in Egypt must take the form of joint stock companies. This provision of the Law is not applicable to insurance companies established under Law No. 43 of 1974 regulating free zones.
"Insurance Under This Act
Article 1  Insurance under the provisions of this Act includes:
First: Personal Insurance and Capital Redemption including the  following classes:
1- All types of Life Assurance.
2 - Personal Accident and Long Term Health Insurance.
3 – Capital Redemption.
Second: Property and Liability Insurance including the following classes:
1 - Fire and additional perils. 2 - Land, River, Marine, Air transportation and related liabilities. 3 - Marine Hull, its machinery, its equipments and related liabilities. 4 – Aircraft, its machinery, its equipments and related liabilities. 5 - Motor vehicle and related liabilities. 6 - Engineering and related liabilities. 7 - Oil. 8 - Miscellaneous and liabilities.
The board of directors of the Authority may issue a decision determining other insurances and their classes. 
[...]
Article 17 - Under the provisions of this Act, "insurance and reinsurance" companies means the joint stock companies authorized to transact insurance and reinsurance business whatever its instrument of establishment and shall be referred to in this Act as the " company ".
[...]
Article 27 - An insurance or reinsurance company must take the form of an Egyptian joint stock company with an issued capital of not less than LE 30 million of which at least one half has been paid up at the establishment.
The rest of the issued capital must be fully paid within a period not exceeding five years from the date of the company's registration at the Authority. 
The company's shares must be nominative.
[...]
Article 75 - Insurance companies established under the System of the Investment of Arab and Foreign Funds and the Free Zones proclaimed by Act No. 43 of 1974 shall continue to carry on their activities in accordance to the provisions and rules issued by the decision of authorization.
The provisions of this Act shall not be applied to these companies except the articles 37 to 40, article 44 items (a, b, d, e), articles 47 to 51 and articles 53, 59,60,61,62, 77 of this Act.
If these companies wish to transact business locally and in local currency, they may reconcile their position in compliance with the provisions of this Act and its decrees.
Article 76 - The General Authority for Investment and Free Zones shall notify the Egyptian Insurance Supervisory Authority of the decision issued for authorizing the establishment of an insurance or reinsurance company in the free zones, as well as the decision of erasure.[...]" (Law No. 10 of 1981 on Supervision and Control On Insurance in Egypt, as amended by Laws No. 91 of 1995 and No. 156 of 1998, Articles 1, 17, 27, 75 and 76 [unofficial translation including amendements up to Law No. 156 of 1998])
Law No. 10 of 1981 on Supervision and Control On Insurance in Egypt, as amended by Laws No. 91 of 1995 and No. 156 of 1998 and later amendments, Articles 1, 17, 27, 75 and 76
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