The Minister of Planning meets with the leaders of Misr Insurance Holding: Applying the highest standards of governance and ensuring workers’ rights.
Dr. Hala Elsaid, Minister of Planning and Economic Development, and Chairman of the Board of Directors of the Sovereign Fund of Egypt, met with the leadership of the Misr Insurance Holding Company and its subsidiaries on Wednesday.
At the beginning of the meeting, Dr. Hala Elsaid thanked the leaders of Misr Insurance Holding Company, its subsidiaries, and all the employees. She said they were doing a great job to keep one of the most important parts of the country's economy.
The Chairman of the Board of Directors of the Sovereign Fund of Egypt has confirmed that the incorporation of the holding company into the Fund is a significant step towards achieving further advancement and expansion in the provision of non-banking financial services that cater to the requirements of the Egyptian populace across all sectors, as well as assisting digital transformation initiatives and utilizing modern technological capabilities and technologies in the advancement of businesses.
Elsaid stressed that the transfer of the company’s ownership to the Sovereign Fund of Egypt will not affect the rights of workers, but rather there will be a plan to develop all employees, provide training opportunities, raise efficiency, discover the capabilities of the distinguished, give them more opportunities, and build partnerships with other entities that support and develop all employees of the Holding Company and its subsidiaries.
The Minister of Planning and Economic Development stressed the need to develop a solid plan to implement governance mechanisms in all areas of administration, from boards of directors to sub-departments, and to follow an approach based on clear standards in implementing these mechanisms to ensure the integrity and transparency of all decisions at all levels.
Elsaid added that the capabilities of Misr Insurance Holding will be maximized and the performance of each company will be followed up to achieve the highest goals.
During the meeting, Assem Ragab, Chairman of the Board of Directors of Misr Insurance Holding Company, and Mohamed Mahran, Managing Director, gave a presentation on the most important strategic objectives of the company and its subsidiaries, and the most important things that have happened in recent years, and the development plan and maximizing the use of the holding company’s capabilities.
Omar Gouda, Managing Director of Misr Insurance Company, gave a comprehensive presentation about the company, its activities, the most important expansion plans, and the most important challenges facing the company.
Dr. Ahmed Abdel Aziz, Managing Director of Misr Life Insurance Company, gave a comprehensive presentation of the company’s history, which extends for more than 120 years, and the most significant stages of the company’s development until it became a leading company in the fields of life insurance, with a large share of the Egyptian market and branches in several countries. He also reviewed the most influential projects related to the development, mechanization, and upgrading of the human element in the company.
Maha Abdelrazek, Managing Director of Misr Real Estate Asset Management Company, gave a comprehensive presentation of the company’s real estate portfolio, which is spread throughout the Republic, and includes numerous buildings of a heritage and non-heritage nature, as well as plans for digital transformation and the launch of a phone application to manage the process of collecting the company’s dues and other projects Futurism.
Engineer Ahmed Deif, Managing Director of Misr Finance Financial Services Company—the newest subsidiary of Misr Insurance Holding Company—gave a presentation on the company’s most important goals and areas of work, the partnerships it was able to conclude during the last year, plans to expand in providing financial services and investing in the capabilities of the holding company.
Reham Elsaeed, Managing Director of Misr Financial Investment Management Company, gave a comprehensive presentation about the company’s establishment and its work in managing an investment portfolio that depends on the contributions of the holding company and its subsidiaries, and its ability to achieve high growth rates in the group’s financial investments and expansion during the coming years.
The meeting was attended by Counselor Mohamed Aba Zeid, Legal Advisor to the Minister of Planning and Economic Development, Ayman Soliman, Executive Director of the Sovereign Fund of Egypt, Mohamed Al-Aqabi, Media Advisor to the Minister of Planning, Noha Khalil, Head of the Investor Relations Sector at the Sovereign Fund, and Wael Ziadeh, Assistant Minister of Planning for Affairs Investment.
