Misr Insurance Company

What Misr Insurance Company does

Misr Insurance Company (MIC) is the largest state-owned non-life (property and casualty) insurer in Egypt, founded on January 14, 1934 by Mohamed Talaat Harb as the country's first Egyptian-capitalized and Egyptian-managed insurance company. The firm offers a comprehensive portfolio spanning eleven main insurance lines: marine cargo and hull, internal transport, fire and burglary, oil and energy, aviation, medical, engineering, vehicle, and miscellaneous accident and liability products. It is the dominant non-life carrier in Egypt with an estimated 40% market share and uniquely concentrates specialized risks — including approximately 96.7% of Egyptian aviation insurance premiums, dedicated petroleum and energy underwriting, and emerging nuclear energy capacity built with Korean partners. The company serves more than 700 institutional clients plus retail customers across more than 100 Egyptian branches, with international offices in Qatar, Kuwait, and a representative office in Dubai International Financial Centre.

The company's distribution model is sales-led through its dense domestic branch network and a regulated broker channel, augmented by iOS and Android mobile applications for motor policy issuance and accident reporting, an electronic accident notification system, and a Visa/MasterCard electronic payment system. Underwriting is complemented by reinsurance partnerships with global reinsurers and Korean entities (Korean Reinsurance Company, Korea Hydro & Nuclear Power, and the Korean Atomic Energy Insurance Pool) that enable assumption of large and technically complex risks such as aviation fleets, satellite and nuclear facilities. Wholly-owned subsidiaries — Misr Insurance Cash Fund and Egypt Investment Fund — provide asset management products. The company's technology stack is conventional web/mobile commerce rather than an AI-native architecture.

MIC generates revenue primarily through recurring insurance premiums (EGP 29.1 billion in insurance revenue in 2025, up 33% year-over-year) and investment income from a portfolio of over 39 billion EGP deployed across industry, securities, banks, and services. Following Presidential Decree 102/2023, the company is 100% owned by the Egyptian Sovereign Fund for Investment and Development. FY2025 reported metrics include a 90% combined ratio, 12% return-on-equity, AM Best B++ financial strength rating, AM Best aaa.EG national scale rating, Fitch AAA(egy) rating with stable outlook, and ISO 9001:2015 certification across all general insurance activities.

Name

Misr Insurance Company

Legal name

شركة مصر للتأمين

Website

https://misrins.com.eg

Company type

Private

Founded year

1934

Operating status

Operating

Headcount range

251–500 employees

Short description

Misr Insurance Company is Egypt's leading state-owned non-life insurer, offering property, casualty, motor, aviation, petroleum, energy, and medical coverage with ~40% market share, 100+ branches, and 700+ institutional clients.

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)

SIC

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

akta.pro primary industry

Mid-Market Commercial Package (Package Policies) (FSAJAFAB)

akta.pro secondary industry

Excess Liability Insurance (FSAJANAC)

Keywords

• Non-life insurance
• Property and casualty insurance
• Marine insurance
• Aviation insurance
• General insurance

Headquarters

HQ city

Gîza

HQ country

Egypt

HQ region

Africa

Offices4 records

Markets served

GTM type

B2B and B2C

Offering type

Services

Cost components

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

Revenue model

1. Non-life Insurance Premiums: Misr Insurance Company generates revenue primarily through insurance premiums across its property and casualty lines, including fire, marine, aviation, motor, engineering, petroleum, accident, and medical insurance. In 2025, the company generated EGP 29.1 billion in insurance revenue with 33% year-over-year growth.
2. Investment Income: The company generates returns from its investment portfolio exceeding 39 billion EGP across various economic sectors (industry, securities, banks, services). The investments are managed to achieve maximum possible returns and support policyholders' rights.

Go-to-market motion1 record

Distribution channels4 records

Marketing channels6 records

Core offering

Misr Insurance Company underwrites and distributes a comprehensive portfolio of non-life (property and casualty) insurance products across 11 main lines: fire and additional perils, marine cargo, land transport, hull, aviation, motor (compulsory and comprehensive), engineering, petroleum and energy, miscellaneous accidents and liabilities, and medical insurance. It supplements premiums with investment income from a portfolio exceeding EGP 39 billion managed across industry, securities, banks, and services, and sells investment fund products including a cash money market fund and Egypt Investment Fund.

Product overview

Misr Insurance Company (MIC) operates as a comprehensive non-life insurance provider offering a diverse portfolio of property and casualty insurance products. The company's core offerings include marine transport, internal transport, hull, fire and burglary, oil and energy, aviation, medical, engineering, vehicle, and miscellaneous accidents and liabilities insurance. MIC also provides investment products through its cash and investment funds. The company has expanded into digital channels with a mobile application for car insurance purchases, and offers microinsurance products like the Aman Misr document for underserved populations. With approximately 40% market share in Egypt's non-life insurance sector, MIC serves both individual and corporate clients through over 100 branches nationwide.

Differentiator

Problem solved

Functional benefit

Brands

• Aman Misr (أمان مصر): Microinsurance policy designed to support kiosk and shop owners protecting them from unexpected risks during their business activities
• Umrala Masr (عمالة مصر)
• Eshah Haneya (عيشة هنية)

Products and services

• Marine Transport Insurance (تأمين النقل البحري) Provides comprehensive protection for goods transported by sea, air, and land during import and export operations, with three coverage levels (All Risks, Medium Coverage, Basic Coverage) and protection against fire, explosion, collision, sinking, and general average contributions; targeted at import and export businesses and logistics operators.
• Internal Transport Insurance (تأمين النقل الداخلي) Covers goods transported domestically by road and inland waterways against risks including fire, overturning, collision, sinking, and derailment, with optional extensions for armed robbery, theft, and war risks; targeted at domestic shippers, logistics operators, and inland transport businesses.
• Hull Insurance (تأمين أجسام السفن) Provides insurance coverage for vessel hulls, shipyards, and construction risks for Egyptian naval fleets and ship owners, with extended war risk and protection & indemnity cover through international reinsurers; targeted at ship owners, fleet operators, and shipyards.
• Fire and Burglary Insurance (تأمينات الحريق و السطو) Comprehensive property insurance covering buildings, machinery, inventory, furniture, and contents against fire, explosion, natural disasters, and burglary, offered in eight specialized programs including all-risk property, real estate financing, museum, and political violence coverage; targeted at property owners, businesses, museums, and financial institutions financing real estate.
• Oil and Energy Insurance (تأمين البترول والطاقة) Specialized insurance for petroleum, gas, petrochemicals, and renewable energy sectors covering onshore and offshore facilities during construction and operation, including well insurance, civil liability, terrorism, and drilling; targeted at upstream, midstream, and downstream energy operators and EPC contractors in Egypt.
• Aviation Insurance (تأمين الطيران) Dominates Egypt's aviation insurance market with 96.7% market share, providing hull, liability, and spare parts coverage for all Egyptian airports and airlines; the only company in Egypt with membership in the International Union of Aviation Insurers and a specialized external aviation insurance department handling international fleet underwriting.
• Medical Insurance (التأمين الطبي) Health insurance coverage including consultations with specialists, diagnostic services (lab, pathology, X-ray, CT, MRI, 3D/4D ultrasound), medication through 300+ contracted pharmacies, hospital network coverage, dental treatment, and optics; targeted at employers, groups, and individuals seeking health coverage.
• Engineering Insurance (التأمين الهندسي) Covers construction and installation projects including contractors all-risks, erection all-risks, contractors equipment, machinery breakdown, electronics equipment insurance, and consequential loss of profits; targeted at construction contractors, EPC firms, project owners, and asset-intensive enterprises.
• Miscellaneous Accidents and Liabilities Insurance (تأمينات الحوادث المتنوعة والمسئوليات) Covers personal accident, professional liability, employers liability, products liability, directors and officers liability, elevator liability, travel, livestock mortality, bankers blanket bond, SME, credit, and customs insurance; targeted at professionals, SMEs, financial institutions, and corporate buyers needing specialty liability covers.
• Vehicle Insurance (تأمين سيارات) Auto insurance covering private, commercial, and motorcycle vehicles with coverage levels from third-party liability to comprehensive all-risk, including optional extensions for international coverage, strikes, natural phenomena, political violence, and passenger personal accident; targeted at individual motorists and commercial fleet operators.
• Mobile Car Insurance Application (تطبيق المحمول لتأمين السيارات) Mobile application on iOS and Android that enables customers to purchase vehicle insurance policies and receive coverage up to EGP 10,000 and connects users with authorized dealerships and agents; targeted at individual motorists who want to buy or renew vehicle coverage via smartphone.
• Aman Misr Microinsurance Document (وثيقة أمان مصر) Microinsurance product designed to protect kiosk and small shop owners from unexpected risks during their business operations; targeted at underserved micro-entrepreneurs in lower-income governorates of Egypt.
• Misr Insurance Cash Fund (صندوق مصر للتأمين النقدي) Money market investment fund managed by Misr Insurance Company providing investors with secure, liquid investment options and competitive returns; targeted at individual and institutional investors seeking money market exposure.
• Egypt Investment Fund (صندوق استثمار مصر) Investment fund managed by Misr Insurance Company offering diversified investment opportunities across various economic sectors; targeted at individual and institutional investors seeking diversified portfolio exposure in Egypt.

Quantifiable outcome

• 40% market share in Egyptian non-life insurance market
• +4 more outcomes

Named customers2 records

Segments2 records

Ideal customer profiles2 records

Technology focussed No

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

Feature3 records

Partnerships

Four partnerships are on record, tiered core and minor.

• Korean Reinsurance CompanycoreStrategic or Co-development Partner · 19 November 2025Strategic cooperation with Korean Reinsurance Company in reinsurance and nuclear energy insurance. The partnership aims to enhance Misr Insurance's capacity for managing major risks and expanding services in domestic and international markets. Korean Re brings expertise in fire, mechanical equipment, and construction projects, with advanced technical capabilities.
• Korea Hydro & Nuclear Power (KHNP)coreStrategic or Co-development Partner · 19 November 2025Strategic cooperation in nuclear energy insurance. Korea Hydro & Nuclear Power operates multiple operating nuclear reactors and others under construction, bringing extensive experience in nuclear risk coverage. This partnership supports Misr Insurance's entry into nuclear insurance in alignment with Egypt's nuclear energy program.
• Korean Atomic Energy Insurance Pool (KAIEP)coreStrategic or Co-development Partner · 19 November 2025Cooperation in nuclear risk coverage through KAIEP's extensive experience in managing nuclear insurance portfolios. KAIEP manages a significant nuclear portfolio with defined scope within their operations, supporting Misr Insurance's risk management capabilities for major risks.
• Orouban Association (جمعية الأورمان)minorStrategic or Co-development Partner · 1 January 2025Partnership to provide 'Aman Misr' microinsurance policy to 100 kiosks for underprivileged families in Faiyum, Beni Suef, Minya, Monufia, and Gharbia governorates. This initiative supports financial inclusion and insurance penetration among underserved populations, aligning with Egypt's Vision 2030.

Scale indicators10 records

Recent moves11 records

Expansion highlights6 records

Regional players

• Walaa Cooperative Insurance: Walaa is a Saudi cooperative P&C insurer offering motor, property, engineering, and energy lines; comparable to Misr in product breadth and mix, and a useful regional proxy for combined-ratio benchmarks and digital adoption.
• Saudi National Insurance (SAICO): SAICO underwrites P&C insurance in Saudi Arabia across motor, property, engineering, and energy lines, providing a regional benchmark for P&C operations, distribution models, and combined-ratio performance in a neighboring MENA market.

Broad incumbents

• Qatar Insurance Company (QIC): QIC is the largest MENA insurer with diversified P&C, reinsurance, and specialty lines including aviation and energy; it competes with Misr in Gulf aviation/energy markets and offers a regional scale benchmark for underwriting and investment portfolios.

Emerging players

• Bupa Arabia for Cooperative Insurance: Bupa Arabia is a leading Saudi health/medical insurer; relevant as a regional peer benchmarking the medical insurance line that Misr also offers, though Misr's medical is one of several lines rather than its core focus.

Direct peers

• Suez Canal Insurance: An Egyptian P&C insurer focused on shipping, marine cargo, hull, and transit-related coverage along the Suez corridor; comparable to Misr's marine and transport lines and a direct competitor in Suez and Red Sea maritime risks.
• Allianz Egypt: Allianz Egypt underwrites non-life insurance products (motor, property, engineering, liability) competing head-to-head with Misr in the Egyptian market, particularly for multinational and large corporate clients.
• GIG Egypt (Gulf Insurance Group): GIG Egypt is a major P&C competitor in Egypt with a similar mix of motor, property, marine, and engineering lines, and is part of a regional group with cross-border underwriting capacity analogous to Misr's regional footprint.
• Egyptian Takaful Insurance (EGYTakaful): An Egyptian Sharia-compliant P&C insurer offering motor, fire, marine, and engineering lines to corporate and retail clients in the same market; competes directly with Misr on price-sensitive corporate and retail segments.
• AXA Egypt: AXA's Egyptian P&C subsidiary offers a comparable portfolio of property, motor, marine, and liability insurance to corporate and retail clients in the same Egyptian market, directly competing with Misr for institutional and individual accounts.

Others

• Munich Re (reinsurance counterparty benchmark): A global reinsurer that is an indirect competitor and a key reinsurance capacity provider for Egyptian P&C carriers including Misr; relevant as a structural benchmark for treaty pricing and large-risk capacity in aviation, energy, and property.

Market position

Strengths5 records

Weaknesses5 records

Competitive moat6 records

Key risks5 records

Key highlights7 records

Customer concentration

• YouTubeyoutube.com/channel/UCJGk2_g1vQ1NwMBRvyPoc4A
• Facebookfacebook.com/MisrInsuranceOfficial
• Instagraminstagram.com/misrinsuranceofficial
• LinkedInlinkedin.com/company/misrinsurance

Compliance3 records

Revenue estimate

Valuation estimate

Number of profiles

Profiles10 records

Subsidiaries2 records

Funding overview

Funding rounds

Investors

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 Misr Insurance Company