Egypt: Misr Life studies plans for standalone health insurer
Source: Middle East Insurance Review | Oct 2017
State-owned Misr Life Insurance is considering the establishment of a medical insurance company, in which its parent company, Misr Insurance Holding Group, will have a stake.
Chairman and Managing Director of Misr Life Ahmed Abdul Aziz said in late August that a decision will be made within two months, after examining the feasibility and agreeing on the details of the establishment of the health insurer, reported Al Mal News.
Mr Abdul Aziz added that the proposed standalone health insurer is part of an expansion plan that the company is adopting to boost growth. He described the health insurance sector as “promising” due to high demand and the population.
He also confirmed that Misr Life plans to expand its geographical reach through the establishment of five new branches, during the current fiscal year ending June 2018, so as to facilitate access to insurance throughout the country.
He added that the five branches will be located in New Cairo, 6th of October City, Sheikh Zayed, Al-Mokattam, and in the delta area, bringing the company’s total number of branches to 168. M