Misr Emirates Life Takaful – SALAMA is targeting a 62% increase in its direct premiums by the end of December 2025. This comes after the Financial Regulatory Authority (FRA) amended the company’s financial year to run from January to December instead of the previous July to June cycle. 

The company expects to record EGP 200 million in direct premiums by the end of this year, compared to EGP 123 million in direct premiums achieved during the 2023/2024 financial year (from July 1, 2023, to June 30, 2024). 

Sherif Azzazy, Managing Director of Misr Emirates Life  Takaful – SALAMA, stated that while some might consider the EGP 123 million in premiums achieved during 2023/2024 to be a modest figure, the company does not focus solely on the premium volume. Instead, it places greater emphasis on the returns generated from those premiums. He explained that while increasing the top line (premium volume) is relatively easy, the key factors are how the premiums are increased and the return on them — also known as the bottom line. 

He added that by “how to increase premiums,” he refers to the approach taken to achieve such growth. It is easy, he explained, to resort to undisciplined pricing practices or to compromise service quality. However, the gains from this approach are short-term—as he described—while the negative impacts in the medium and long term are substantial and inevitably lead to a loss of customer trust in the company. 

He emphasized that the guiding principle of Misr Emirates Life Takaful – Salama is that earning the client’s trust takes precedence over increasing premiums, especially when those premiums are not matched with a service level and pricing discipline that reflect the customer’s expectations. 

The Managing Director of Misr Emirates Life Takaful – Salama also confirmed that the company has a deliberate, well-structured plan to increase its premiums. The target is to achieve a 62% growth during 2025, reaching EGP 200 million, which represents an increase of more than EGP 76 million compared to the figure recorded by the end of June 2024. However, he stressed that this growth must begin gradually, with expected jumps to follow naturally—driven by a solid, studied foundation. This is because the true value of life insurance lies in service, in all its dimensions.