Misr Life Insurance – Takaful, an Egyptian life insurance company, announced an increase in its share capital, now set at 400 million Egyptian pounds (approximately 7.3 million USD). This recapitalization was made possible thanks to a contribution of 250 million Egyptian pounds (approximately 4.6 million USD) injected by its main shareholders: Misr Holding Insurance Company, Misr Insurance Company, and Misr Life Insurance Company, according to a statement released on Thursday, April 9.
This operation is part of the new requirements imposed by the Financial Regulatory Authority (FRA), which has asked insurance companies to strengthen their capital to ensure the stability of the sector. The regulator has set a two-step schedule: a minimum of 400 million EGP (approximately 7.3 million USD) within one year, and then 600 million EGP (approximately 12 million USD) within two years.
With this capital strengthening, Misr Life Insurance – Takaful aims to consolidate its solvency, increase its risk coverage capacity, and strengthen its credibility with investors and institutional clients. This recapitalization marks a key step in its development strategy and illustrates the Egyptian authorities’ determination to strengthen the insurance sector by imposing higher capital thresholds to ensure its stability and competitiveness.
Established in 2022, Misr Life Insurance – Takaful is a joint-stock company specializing in life and health insurance, with a presence also in financial services. Its shareholders include the National Bank of Egypt, Banque Misr, Misr Insurance Holding, and Misr Insurance.
