Misr Emirates Takaful Life Insurance Egypt is an Islamic insurance company that offers Takaful life insurance in the Arab Republic of Egypt. Founded in 2015, the company has an authorized capital of 100 million Egyptian pounds and issued capital of 60 million Egyptian pounds. It is a joint stock company subject to the rules of Islamic law.
Misr Emirates Takaful Life Insurance Egypt aims to provide solid foundations for a better future through its insurance services. The company plans to increase its capital to EGP45 million this year to have an issued EGP30 million. The company is one of the subsidiaries of the Islamic Arab Insurance Companies (SALAMA).
As a leading Takaful life insurance provider in Egypt, Misr Emirates Takaful Life Insurance Egypt is committed to providing its customers with high-quality services that meet their unique needs. The company’s commitment to Islamic principles and values ensures that its services are ethical and follow Islamic law.
Company Overview
History and Growth
Misr Emirates Takaful Life Insurance Co, known as METLICO, is an Egyptian joint stock company founded in 2015. According to Islamic law, the company is engaged in Takaful life insurance in Egypt. METLICO has an authorized capital of 100 million Egyptian pounds and an issued capital of 60 million. Since its establishment, METLICO has been committed to providing its customers with high-quality Takaful life insurance products. The company has grown steadily and become one of Cairo’s leading Takaful life insurance providers.
Mission and Vision
METLICO’s mission is to provide its customers with innovative and Sharia-compliant Takaful life insurance solutions that meet their needs and exceed their expectations. The company aims to become Egypt’s most trusted and preferred Takaful life insurance provider. METLICO believes in solid foundations for a better future. The company is committed to providing its customers with financial security and peace of mind and contributing to Egypt’s economic development.
Corporate Structure
Management and Leadership
Misr Emirates Takaful Life Insurance Egypt is a joint stock company with a solid corporate structure. It is managed by experienced professionals led by the Managing Director, Sherif Azzazy. Azzazy is an award-winning business leader with over 25 years of experience in the insurance field. He is known for his remarkable achievements in driving businesses to profitability and sustainability.
Subsidiaries and Partnerships
Misr Emirates Takaful Life Insurance Egypt has a global network of subsidiaries and partnerships, enabling it to provide its customers with a wide range of insurance products and services. The company has established partnerships with leading insurance companies worldwide, allowing it to tap into its expertise and offer innovative insurance solutions to its customers.
The company also has several subsidiaries operating in different regions and specializing in various insurance products. These subsidiaries are wholly owned by Misr Emirates Takaful Life Insurance Egypt and operate under its corporate umbrella.
Products and Services
Takaful Solutions Portfolio
Misr Emirates, Takaful Life Insurance Egypt, offers many Takaful solutions that comply with Islamic law and Shari’ah principles. The company’s portfolio includes life insurance, savings plans, and investment-linked plans. These solutions are designed to meet individual and institutional customers’ unique needs.
The company’s life insurance products provide financial protection to policyholders and their families in unfortunate events such as death, disability, or critical illness. The savings plans offered by the company are created to help customers save for their future financial needs. The investment-linked plans allow customers to invest in a range of Shari’ah-compliant funds.
Misr Emirates Takaful Life Insurance Egypt’s Takaful solutions portfolio is designed to provide customers with peace of mind and financial security. The company’s products are tailored to meet the different needs of customers, whether they are looking for protection, savings, or investment opportunities.
Institutional Customer Offerings
Misr Emirates Takaful Life Insurance Egypt also offers a range of institutional customer offerings, including group life insurance, group medical insurance, and group personal accident insurance. These offerings are created to meet the unique requirements of institutional customers, such as employers and organizations.
The company’s group life insurance protects employees and their families in case of death or disability. The group medical insurance offers comprehensive coverage for medical expenses. The group personal accident insurance provides financial compensation to employees in case of accidental death or disability.
Misr Emirates Takaful Life Insurance Egypt’s institutional customer offerings are designed to provide employers and organizations with a cost-effective way to provide financial protection and employee benefits. The company’s offerings are tailored to satisfy the various requirements of institutional customers, whether they are looking for basic coverage or comprehensive benefits packages.
Financial and Regulatory Information
Capital and Investments
Misr Emirates Takaful Life Insurance Egypt has a capital of 100 million Egyptian pounds and an issued capital of 60 million Egyptian pounds. The company is committed to investing its capital using Islamic law principles.
Regulatory Compliance
Misr Emirates Takaful Life Insurance Egypt is regulated by the General Authority for Financial Supervision. The company adheres to all applicable regulations and standards set forth by the regulator. Misr Emirates, Takaful Life Insurance Egypt holds a Commercial Registration Number and is authorized to operate in the Arab Republic of Egypt.
The company is dedicated to upholding rigorous standards of corporate governance and transparency. Misr Emirates, Takaful Life Insurance Egypt, has established robust internal controls and risk management frameworks to adhere to regulatory standards and safeguard the interests of its stakeholders.
Strategic Presence
Misr Emirates Takaful Life Insurance Egypt has a strategic presence in the Middle East region, focusing on expanding its operations in key markets. The company has established a strong network of affiliates and partners, which has helped it grow its business and increase its market share.
Regional Expansion
Misr Emirates Takaful Life Insurance Egypt has expanded its presence in the Middle East, focusing on key markets such as the UAE, Dubai, Saudi Arabia, Senegal, Algeria, and Jordan. The company has leveraged its strong brand and reputation to gain a foothold in these markets and has been successful in attracting a large number of customers.
Network and Affiliations
Misr Emirates Takaful Life Insurance Egypt has established a strong network of affiliates and partners, which has helped it grow its business and increase its market share. The company has also established partnerships with leading financial institutions and insurance facilities in the area, which has helped it expand its product offerings and reach a broader customer base.
The company has also leveraged its strong relationships with key stakeholders in the region, including regulators and government agencies, to ensure that its operations comply with local regulations and laws. This has helped the company build a strong reputation in the region and positioned it as a leading provider of Takaful life insurance products.
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Frequently Asked Questions(FAQs):
How can I contact Misr Emirates Takaful Life Insurance for inquiries?
If you have any inquiries regarding Misr Emirates Takaful Life Insurance, you can contact their customer service team through their hotline at 19959. You may also visit their website and fill out a contact form to get an email.
Where is the headquarters of Misr Emirates Takaful Life Insurance located?
Misr Emirates Takaful Life Insurance’s headquarters is in Cairo, Egypt. The address is 7th Floor, Building No. 2, El-Sheikh Zayed Tower, El-Sheikh Zayed City, Giza Governorate.
What is the process for filing a Misr Emirates Takaful Life Insurance claim?
To file a claim with Misr Emirates Takaful Life Insurance, you must submit a claim form and supporting documents such as medical reports, death certificates, and police reports. You may download the claim form from their website or request it from their customer service team. Whenever the claim is submitted, it will be reviewed and processed according to the terms and conditions of your policy.
What career opportunities are available at Misr Emirates Takaful Life Insurance?
Misr Emirates Takaful Life Insurance offers various career opportunities in fields such as sales, marketing, underwriting, and customer service. Visit their website and check their career page for available job vacancies and requirements.
How does Takaful insurance differ from conventional life insurance?
Takaful insurance depends on Islamic Shariah principles, which prohibits interest (riba) and uncertainty (gharar). Unlike conventional life insurance, Takaful insurance is based on cooperation and shared responsibility. Policyholders contribute to a common fund used to pay claims and expenses. Any surplus is distributed among the policyholders as profit.
What types of risks are covered under Takaful insurance plans?
Takaful insurance plans cover various risks, such as death, disability, critical illness, and accidents. The coverage and benefits can differ depending on the plan type and the policy’s terms and conditions. Reading and understanding the policy before purchasing it must satisfy your requirements.
