FRA Signs MoU with London’s Bayes to Train Insurance Sector Leaders

The Financial Regulatory Authority (FRA) signed a memorandum of understanding (MoU) with Bayes Business School (University of London) in a landmark move to bolster the capabilities of Egypt’s insurance sector leadership.

 The signing ceremony took place at the Egyptian Embassy in London, witnessed by Mohamed Farid, Chairman of the FRA, and Sherif Kamel, Egypt’s Ambassador to the UK.

The agreement was signed by Tarek Seif, Executive Director of the FRA’s Financial Services Training Institute, and Lan Stromsmoe, Director of Leadership Training at Bayes Business School. 

The collaboration aims to develop and enhance the skills of future leaders within Egyptian insurance companies, reinforcing the sector’s competitiveness in line with the FRA’s strategic vision.

The MoU forms part of the FRA’s broader efforts to implement the protocol established with Egyptian insurance companies, focusing on upgrading leadership capabilities through specialized training and knowledge exchange.

As part of the official delegation's visit to London, key FRA officials visited Bayes Business School to finalize implementation plans and explore future collaboration areas. These discussions emphasized expanding cooperation to include actuarial studies, financial literacy, and awareness programs.

The executive leadership training program will cover essential topics such as institutional leadership in the era of digital transformation, developing strategic thinking in a digital environment, formulating change management strategies, and designing innovative business models adaptable to the rapidly evolving insurance landscape.

The program will be conducted twice annually at the Bayes campus in London and will be led by a distinguished team of international academics and practitioners specializing in digital leadership and strategy.

Participants will benefit from immersive learning experiences, including practical activities and field visits to Lloyd’s of London market, allowing direct interaction with global business environments and exposure to best practices.

Farid emphasized the FRA’s dedication to cultivating a new generation of professionals equipped to formulate policies aligned with global leadership and technological trends. He noted that this initiative is a vital part of the FRA’s vision to develop human capital across various sectors, especially the insurance industry. Strengthening professional capacities, he said, will enhance the sustainability and growth of Egypt’s insurance sector, thereby supporting the national economy and boosting domestic savings.

Mark Carperey, Director of Executive Leadership Training at Bayes Business School, expressed enthusiasm about the collaboration. He highlighted that the partnership combines Bayes’ extensive expertise in insurance and leadership development with the FRA Training Institute’s deep understanding of Egypt’s non-banking financial services market. 

Carperey affirmed Bayes’ commitment to supporting skill development in Egypt’s insurance sector and looked forward to expanding this cooperation with further training programs.