Misr Emirates Takaful Life targets total 8 branches at FY16/17-end

Newly established Misr Emirates Takaful Life Insurance (METLICO) is seeking to boost its geographical presence in Egypt to have 8 branches at end of financial year 2016-2017, its managing director said Monday.

Apart from its headquarters in Cairo, Salah Abdel Fattah further said that METLICO currently has six branches, after opening two branches recently in Alexandria and Hurghada.

METLICO will inaugurate a new branch in Maadi district within next October, the official added, saying the company plans to set up a strong presence in Suez Canal cities in the coming period.

The takaful operator is studying opening a branch in Ismailia governorate but awaits board approval, he added.

Founded in 2015, Misr Emirates Takaful Life Insurance Co is part of the UAE Islamic Arab Insurance Companies (SALAMA).

SALAMA has 6 direct Takaful companies who provide Takaful solutions to customers based in UAE, Saudi Arabia, Egypt, Senegal, Algeria, and Jordan.