Mada Insurance

What Mada Insurance does

Mada Insurance is a privately held Egyptian property and casualty insurer founded in March 2020 and licensed by the country's Financial Regulatory Authority (FRA) on 25 June 2020. The company underwrites across six core product lines — motor, marine, medical, engineering, miscellaneous/general accident, and fire — with over 20 sub-products spanning private and commercial motor, hull/cargo/inland-transit marine, group medical, contractors all risks (CAR), erection all risks (EAR), machinery breakdown, and specialty coverages including decennial liability, elevator liability, and livestock. Headquartered in Mohandessin (Giza) with branch offices in Nasr City (Cairo) and Alexandria, Mada targets both individual consumers and business entities through a horizontal, mass-market positioning.

The company's technology backbone is an online insurance subscription and policy management platform delivered through a strategic partnership with 3i Infotech, an ISO-certified information technology vendor. This platform supports online quote requests and policy servicing, complemented by the physical branch network for in-person distribution and an FRA-approved corporate website (approved 23 August 2023). The company's authorized capital stands at EGP 1.5 billion with issued and paid-up capital of EGP 150 million, and it employs between 251 and 500 staff. The CEO & Managing Director is Walid Sayed, a veteran of the Egyptian and Arab insurance markets.

Revenue is generated primarily through insurance premium collection across the multi-line product portfolio, classified in source data as a subscription/recurring model via policyholder premium payments. Pricing is not publicly disclosed; customers obtain quotes through the website or branch channels. The company has not disclosed revenue, gross written premium, or financial indicators in the available data despite operating an Investor Relations section on its website. A 2022 funding round from El Sewedy Capital Holding brought institutional capital onto the cap table. Mada Insurance operates exclusively within Egypt (North Africa) with no disclosed international footprint.

Name

Mada Insurance

Legal name

Mada Insurance

Website

https://mada-insurance.com

Company type

Private

Founded year

2020

Operating status

Operating

Headcount range

251–500 employees

Short description

Mada Insurance is an Egyptian property and casualty insurer licensed by the FRA in 2020, underwriting motor, marine, medical, engineering, fire, and general accident coverages for individuals and businesses across Giza, Cairo, and Alexandria.

Ownership category

akta.pro rank

Product category

Property and Casualty Insurance

NAICS

Direct Property and Casualty Insurance Carriers (524126), Direct Insurance (except Life, Health, and Medical) Carriers (52412), Direct Health and Medical Insurance Carriers (524114)

SIC

Fire, Marine & Casualty Insurance (6331), Insurance Carriers, Nec (6399)

akta.pro primary industry

Commercial Auto & Fleet Insurance (FSAJAMAB)

akta.pro secondary industries

Personal Auto Insurance (FSAJAMAA), General Liability Insurance (FSAJAMAE), Product Liability & Recall (FSAJAGAG)

Keywords

• Property casualty insurance
• Motor insurance
• Marine insurance
• Medical insurance
• Engineering insurance

Headquarters

HQ city

Cairo

HQ country

Egypt

HQ region

Africa

Offices3 records

Markets served

GTM type

B2B and B2C

Offering type

Services

Cost components

Personnel, Operations, Marketing or Sales, Technology or R&D, Infrastructure

Revenue model

1. Insurance Premium Revenue: Collection of insurance premiums across multiple product lines including motor, marine, medical, engineering, miscellaneous, and fire insurance. Revenue generated through policyholder premium payments.

Go-to-market motion1 record

Distribution channels2 records

Marketing channels2 records

Core offering

Mada Insurance is an Egyptian property and casualty insurer offering six core product categories: motor insurance (private and commercial), marine insurance (hull, cargo, inland transit), medical insurance (group medical), engineering insurance (CAR, EAR, machinery breakdown, electronic equipment), miscellaneous/general accident insurance (personal accident, liability, fidelity, livestock), and fire insurance (household, commercial all-risks, hotel). Policies are sold directly through the company website and a branch office network, with online subscription capabilities enabled via its technology partnership with 3i Infotech.

Product overview

Mada Insurance operates as a multi-line property and casualty insurer offering six core insurance product categories: Motor Insurance (covering private and commercial vehicles), Marine Insurance (including hull, cargo, and inland transit), Medical Insurance (group medical coverage), Engineering Insurance (contractors all risks, erection all risks, machinery, and electronic equipment), Miscellaneous/General Accident Insurance (personal accident, liability policies, fidelity guarantee, and specialty coverages), and Fire Insurance (property protection including household, commercial, and all-risks policies). The company provides advanced and comprehensive insurance coverage through multiple product lines, with individual policies offered as standalone products or supplementary coverage options. Established in March 2020 and licensed by the Financial Regulatory Authority, Mada Insurance aims to deliver insurance products including health cover, travel, marine cargo, motor, and engineering insurance.

Differentiator

Problem solved

Functional benefit

Products and services

• Motor Insurance Vehicle insurance covering private and commercial motor fleets, providing protection against accidents, theft, and damage. Includes Private Motor Insurance (supplementary coverage for privately owned vehicles beyond mandatory third-party requirements) and Commercial Motor Insurance (coverage for business transportation fleets).
• Marine Insurance Marine insurance protecting vessels, cargo, and inland transit operations against maritime risks. Sub-products include Hull Policy (physical damage to ship hulls), Cargo Policy (goods transported by sea), and Inland Transit Policy (cargo transported over land).
• Medical Insurance Health insurance coverage providing medical protection for individuals and groups. Sub-product includes Group Medical Insurance, comprehensive health coverage designed for employee groups and organizations.
• Engineering Insurance Insurance protecting construction projects, machinery, and engineering operations. Sub-products include Contractors All Risks (CAR), Erection All Risks (EAR), Contractors' Plant and Machinery (CPM), Machinery Breakdown Policy, Electronic Equipment Policy, and DOS – Cold Storage Policy.
• Miscellaneous (General Accident) Insurance Broad category of accident and liability insurance covering risks not included in other lines. Sub-products include Personal Accident Policy, Cash In Transit Policy, Fidelity Guarantee Policy, Livestock Policy, Plate Glass Policy, Product Liability Policy, Comprehensive General Liability Policy, Employer Liability Policy, Professional Indemnity Policy, Elevator Liability Policy, and Decennial Liability Policy.
• Fire Insurance Property insurance protecting against fire damage and related perils. Sub-products include Fire and Allied Perils Policy, Hotel All Risks Policy, Property All Risks LM7 Policy, Fire and Burglary Policy, Industrial and Commercial All Risks Policy, and Household Policy (home insurance for residential properties).

Segments1 record

Ideal customer profiles2 records

Technology focussed No

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

Feature1 record

Partnerships

One partnership is on record.

• 3i InfotechcoreTechnology or IntegrationMada Insurance partners with 3i Infotech, an ISO certified information technology company, to provide advanced and comprehensive insurance coverage through their partnership. 3i Infotech enables the company to alleviate online subscriptions and provide technology-enabled insurance services.

Scale indicators2 records

Recent moves7 records

Expansion highlights5 records

Broad incumbents

• Misr Insurance Company: Egypt's largest state-owned P&C insurer, dominating the local market across motor, fire, marine, and engineering lines. Directly comparable as a multi-line Egyptian carrier, but with decades of accumulated reserves, brand equity, and broker relationships that dwarf Mada's.
• AXA Egypt: Subsidiary of global insurer AXA, operating in Egypt across P&C and life lines. Comparable as a multi-line insurer targeting both individuals and corporates, but with materially deeper capital and international reinsurance access.
• Allianz Egypt: Local subsidiary of Allianz, one of the world's largest insurers, offering P&C and life products in Egypt. A direct competitor for corporate and personal lines, with stronger brand recognition and global underwriting expertise.
• GIG Egypt (formerly AIG Egypt): Multinational P&C insurer with established operations in Egypt across commercial and personal lines. Comparable multi-line offering with the advantage of international reinsurance backing.

Direct peers

• QNB Insurance (QNB Al Ahli Insurance): Egyptian P&C insurer affiliated with QNB Group, offering motor, fire, marine, engineering, and liability coverages. Closely comparable in product mix and customer segments to Mada, with similar scale and Egyptian-only geographic focus.
• Egypt Insurance Company: State-owned Egyptian insurer offering P&C products including motor, marine, fire, and engineering. A direct competitor in the same lines, though with the structural advantages of government backing.
• National General Insurance (Egypt): Egyptian P&C insurer offering motor, property, marine, and engineering lines. Comparable multi-line P&C focus in the same Egyptian market, competing for similar SMB and individual customers.
• Delta Insurance: Egyptian multi-line P&C insurer offering motor, fire, marine, and miscellaneous accident products. A direct competitor in the Egyptian market with a similar product mix and target customer base.

Regional players

• Saudi Enaya Cooperative Insurance: Saudi-based cooperative insurer offering health and P&C products. Comparable in product breadth and orientation toward group/individual customers, though operating in a different geography (Saudi Arabia vs. Egypt).
• Medgulf (Arabian Scandinavian Insurance): MENA-focused P&C insurer offering motor, marine, fire, engineering, and liability products. Comparable multi-line offering across MENA, though primarily Gulf-focused rather than Egyptian.

Market position

Strengths5 records

Weaknesses5 records

Competitive moat4 records

Key risks6 records

Key highlights7 records

Customer concentration

Revenue estimate

Valuation estimate

Number of profiles

Profiles1 record

Funding overview

Funding rounds1 record

Investors1 record

Funding detail is available on the Subscription and Enterprise plan.Contact sales →

M&A

Investments

M&A and investment is available on the Subscription and Enterprise plan.Contact sales →

Frequently asked questions about Mada Insurance