Misr Emirates Life Takaful – Salama Sets Ambitious Strategic Plan, Achieves Significant Profit Growth 

Through its current executive board, Misr Emirates Life Takaful  – Salama has developed an ambitious strategic plan that has already produced remarkable positive outcomes, most notably a significant surge in profits for both shareholders and policyholders. 

The plan has successfully laid the internal foundations of the company, created a broad and diverse range of life insurance products, and fostered strong, positive relationships with insurance intermediaries—both individuals and corporate brokers. Additionally, it resolved a longstanding dispute with one of the largest banks operating in the Egyptian market, positioning the company as a trusted and desirable partner for all parties in the insurance ecosystem. 

As part of this momentum, we spoke with Sherif Azzazy, Managing Director and Executive Board Member, who outlined the key pillars of this strategic roadmap. 

Azzazy affirmed that Misr Emirates Life Takaful – Salama still has much more to achieve in terms of growth and milestones. “What we’ve accomplished so far is only a small part of our broader vision,” he said. “We aspire to join the ranks of the top insurance companies in the Egyptian market. This goal is driven by the unwavering support of our shareholders and policyholders, who have always believed in the company and its team.” 

He added that during the past period, the company focused on building strong relationships with insurance brokers—a goal that has been successfully achieved. “We also resolved a years-long dispute with one of the country’s major banks, inherited from the previous executive management. We are now in the process of reestablishing business cooperation with that bank.” 

In parallel, the company built a highly capable sales and production team and launched a wide and diversified suite of group life insurance products. 

“Despite the inflation, currency devaluation, and rising costs experienced in the market recently, we managed to overcome these challenges by controlling commissions, production costs, and general and administrative expenses—even though most of our invoices, such as for IT infrastructure and technology tools, are paid in US dollars.” 

Azzazy also revealed that the company is preparing to launch its group medical insurance business by mid-next year. “We’ve already built specialized teams for pricing, collection, and portfolio management. We were cautious about entering the medical insurance field because it requires in-depth studies and a unique operational approach. But now, with our strong financial position, high profitability, and competitive products, we are ready to move forward.”  Additionally, the company is preparing to sign a bancassurance agreement with a major bank to offer individual insurance products tailored to bank customers, including investment, marriage, and education policies.