Cairo –  Egypt’s Financial Regulatory Authority (FRA) has granted Misr Takaful Insurance – Hayat a licence to carry on its business activity in Egypt.

The new insurer has been established with an EGP 150 million capital with the aim of adding new value to the Egyptian insurance sector in general and Takaful insurance in particular.

Misr Takaful Insurance – Hayat was launched in partnership between Misr Insurance Holding Company (MIHC), Misr Life Insurance, Misr Insurance, National Bank of Egypt (NBE), and Banque Misr.

With its newest addition, MIHC aims to fulfill the needs of its customers and provide new products and services in the local market, especially for the segment opting for Sharia-compliant insurance products.

Leveraging the most advanced technologies, Misr Takaful Insurance – Hayat plans to offer innovative, diversified packages, including insurance services for individuals, life insurance for groups, in addition to group medical insurance for large, medium, and small companies and bank insurance.

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