AM Best affirms Misr Insurance Company’s ratings

AM Best has affirmed the “B++” (Good) Financial Strength Rating and the “bbb” (Good) Long-Term Issuer Credit Rating of Misr Insurance Company (MIC), the non-life insurance arm of Misr Insurance Holding Company (MIHC). The outlook remains stable.

The agency also affirmed the Egyptian insurer’s National Scale Rating (NSR) of “aaa.EG” (Exceptional).

The ratings reflect MIC’s strong balance sheet, adequate operating performance, neutral business profile, and prudent risk management, according to AM Best.

In 2025, the company reported a combined ratio of 90% and a return on equity (ROE) of 12%.

MIC remains the leading player in Egypt’s non-life insurance market, reporting insurance revenue of 29.1 billion EGP (609.6 million USD) and accounting for a 40% market share.