Creation of Misr Takaful Insurance-Hayat

Misr Insurance Holding Company (MIHC), Misr Life Insurance, Misr Insurance, National Bank of Egypt (NBE) and Banque Misr have established a new company named Misr Takaful Insurance-Hayat.

The new insurer has recently been granted a license by the Financial Regulatory Authority (FRA) to carry out takaful insurance activities in the country.

With a share capital of 150 million EGP (6.1 million USD), Misr Takaful Insurance-Hayat will provide a diversified range of insurance products. The company will thus be offering insurance coverage for individuals, life insurance for groups, group health insurance for large, medium and small companies as well as bancassurance products.

With this initiative, the co-founders of the new entity intend to enrich the Egyptian insurance sector. They also hope to cater to the needs of customers opting for Sharia-compliant insurance policies.