Misr Life Ins. to serve 4 Egyptian microfinance companies
Tuesday, 09 03 2019, Category: Insurance and Reinsurance, Country: Egypt
Egypt’s state-run Misr Life Insurance says it has signed insurance policy agreements with four local microfinance companies.
The four companies are Reefy, Fawry Microfinance, and Aman for Microfinance as well as Al Tadamun Microfinance Foundation, said Misr Life Insurance’s chairman and chief executive Ahmed Abdel Aziz on Sunday.
The deals will see Misr Life provide the insurance coverage for the companies’ clients, who have received microfinances according to limits of coverage of a loan or the remaining loan balance, Abdel Aziz told Amwal Al Ghad.
In March 2018, Misr Life Insurance has signed a deal with the National Bank of Egypt, Banque Misr, Banque du Caire, and Agricultural Bank of Egypt to issue Aman life insurance certificates to provide a safety net for temporary labourers.
Source: Amwal Al Ghad