Misr Insurance wins Egypt watchdog’s medical insurance policy bid

The leading insurer in MENA region, Misr Insurance Company has won a medical insurance policy bid launched by Egypt’s market regulator, the Egyptian Financial Supervisory Authority (EFSA).

Mostafa Al-Shimi – Head of Medical Insurance Division at Misr Insurance – said Monday that EFSA’s policy is tailored for around 2,000 employees, with total sum insured up to 5 billion Egyptian pounds (US$638 million).

It involves an insurance coverage of all the medical risks arising out of surgeries, endoscopes, in addition to the medical bills, outpatient clinics, medicines, dental treatments, and chronic diseases, Al-Shimi told Amwal Al Ghad by phone Monday.

Misr Insurance targets gross written medical premiums of 480 million pounds by the end of June 2016, compared to 470 million pounds in the last financial year 2014-2015.