Establishment of a new Takaful insurance company in Egypt

The Egyptian minister announced on 14 August 2017, the official launch of Misr Insurance Takaful, the takaful subsidiary at 40% of the state insurer Misr Insurance Holding.

The new company counts among its shareholders, Misr Life Insurance (20%), Misr Real Estate Assets Management (20%), Holding Company for Pharmaceuticals (10%) and Misr Investment and Finance Fund (10%).

The new entity should benefit from the positive dynamics of the Takaful sector in Egypt, which currently accounts for 9% of the insurance market.

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