AM Best affirms Misr Life Insurance Company's rating

AM Best has confirmed Misr Life Insurance Company's (MLIC) "B++" (good) financial strength and "bbb" long-term credit ratings.

The rating agency also assigned an "aaa" (exceptional) national rating to MLIC, the life subsidiary of Misr Insurance Holding Company. The outlook is stable.

The rating is reflective of the company's strong balance sheet, good operating performance, neutral business profile and appropriate enterprise risk management.

With a market share of 30% in 2022, MLIC is the leading player in the Egyptian life insurance market.