Misr Life Insurance Company has decided to increase its authorized capital, as well as its issued and fully paid-up capital, in accordance with the provisions of its Articles of Association following their amendment and approval by the Financial Regulatory Authority (FRA)
Misr Life Insurance Company has decided to increase its authorized capital, as well as its issued and fully paid-up capital, in accordance with the provisions of its Articles of Association following their amendment and approval by the Financial Regulatory Authority (FRA).
The FRA, chaired by Dr. Mohamed Farid, issued Resolution No. 363 of 2026 concerning the amendment of 11 articles of the Company’s Articles of Association (Articles 1, 3, 5, 6, 7, 18, 22, 44, 46, 53, and 54).
According to the resolution, the Company may participate in any manner with companies and other entities engaged in activities similar to its own or those that may assist it in achieving its objectives, whether in Egypt or abroad. It may also merge with, acquire, or affiliate such entities in accordance with the law.
The authorized capital of Misr Life Insurance Company has been set at EGP 10 billion, while the issued and fully paid-up capital amounts to EGP 5 billion, divided into 500 million ordinary registered shares with a nominal value of EGP 10 per share. The Company is 100% owned by Misr Insurance Holding Company.
The Egyptian ownership percentage stands at 100% prior to the increase, as recorded in the Commercial Register. The full capital increase of EGP 2 billion has been paid from the reserve account allocated for capital increases, which consists of the special reserve and retained earnings as reflected in the Company’s financial statements for the period ending December 31, 2024. Accordingly, the total issued capital of EGP 5 billion is now fully paid.
It is worth noting that the Company’s General Assembly approved last December the appointment of Mostafa El Qamash as Managing Director, officially succeeding Dr. Ahmed Abdelaziz, who currently serves as Deputy Chairman of the Financial Regulatory Authority.
El Qamash brings over 30 years of extensive experience in the insurance and financial sectors, having held several senior positions in major local and regional companies, including Bupa, Allianz, and Orascom.
He previously served as Deputy CEO and Chief Financial Officer of Misr Life Insurance Company.
