The decision was made by a technical committee comprising experts from Misr Insurance Holding Company and Misr Life Insurance, under the supervision of the Sovereign Fund of Egypt.
Misr Life Insurance is part of Egypt’s IPO programme, but it is currently in a pre-listing (provisional listing) stage, not fully traded on the stock exchange.
The offering forms part of the government’s broader strategy to expand private sector participation and widen the ownership base of state-owned companies through the stock market, in line with the State Ownership Policy Document. The programme also aims to enhance asset value, improve governance standards, and strengthen companies’ financial and operational performance, while deepening Egypt’s capital market and boosting its appeal to investors.
The Sovereign Fund of Egypt (TSFE) had invited local and international investment banks to submit technical and financial bids to manage the promotion and underwriting of the planned offering. Announcements were published in local newspapers and online platforms to ensure transparency and equal opportunity among competing institutions.
The TSFE received around six bids from a mix of local and international investment banks, reflecting continued interest in Egypt’s investment landscape. A specialized committee was formed to evaluate the proposals, reviewing both technical and financial aspects in detail.
The assessment process included a series of meetings with shortlisted bidders, during which proposals were examined against defined criteria. Technical evaluation focused on each bank’s experience in capital markets, knowledge of Egypt’s insurance sector, understanding of the company’s business model and IPO strategy, as well as the capabilities of the proposed execution team.
Financial evaluation centred on fee structures, including success fees and other costs associated with executing the transaction.
Based on the committee’s recommendations, EFG Hermes was selected to lead the transaction, with a targeted timeline for completion before the end of the second half of 2026.
Established in 1900, Misr Life Insurance is one of the leading companies in Egypt’s insurance sector, holding an estimated 22 percent share of the life insurance market in terms of premiums. The company’s shareholders’ equity stood at around EGP 42 billion as of September 2025, supported by sustained profitability and a strong operational performance.
Egypt is currently engaged in an Extended Fund Facility (EFF) programme with a total loan amount of $8 billion. The programme is scheduled to conclude by mid-December this year, and accelerating the country’s IPO programme is a key measure under the programme.
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