Egypt's biggest insurance group, Misr, has plans to enter Nigeria's non-life and reinsurance market.
A delegation from the Egyptian state-owned insurance group paid a courtesy visit last week to the National Insurance Commission (NAICOM) in Abuja.
The two sides discussed opportunities arising from Nigeria’s newly enacted Nigerian Insurance Industry Reform Act 2025 and the sector’s ongoing transformation agenda, said NAICOM.
Misr Insurance Group is exploring strategic partnerships as it positions itself to tap into Nigeria’s growing risk landscape and reinsurance capacity needs.
Misr Insurance Group CEO Mohammed Maharaj, who led the delegation, said that Nigeria’s expanding risk landscape and low insurance penetration rate offer compelling opportunities.