Cairo - Mubasher: Fawry for Banking Technology and Electronic Payments has received the Financial Regulatory Authority's (FRA) approval to establish a dedicated microinsurance subsidiary, with a paid-in capital of EGP 60 million.
Fawry for Microinsurance will offer low-cost, simplified insurance products tailored to microbusinesses, gig economy workers, and mass-market consumers, according to a press release.
This unit, mainly focusing on health, life, personal accident, and asset protection, aligns with the group's strategy to expand inclusive insurance services targeting underserved segments and small businesses across Egypt.
Fawry will distribute the products through its nationwide ecosystem, including more than 350 Fawry Plus branches, over 375,000 merchant points of sale, and its digital platform, which exceeds 24 million downloads of the myFawry app.
In line with national financial inclusion objectives supported by the FRA and the Central Bank of Egypt (CBE), the integration is designed to allow customers to access and enroll in insurance services through existing payment and service touchpoints.
Ashraf Sabry, the CEO of Fawry, commented: “Securing the microinsurance license is a natural extension of Fawry’s mission to enable financial inclusion at scale. Insurance remains underpenetrated in Egypt, particularly among micro and informal segments."
Sabry noted: “By embedding insurance into our existing payment ecosystem, we can offer relevant, affordable protection in a seamless and trusted manner.”
Fawry plans to leverage its data infrastructure to design customer-centric insurance products based on real usage patterns and everyday risks. It also aims to embed microinsurance within its broader ecosystem, including bill payments, mobile wallets, lending, and merchant services.
During 2025, Fawry generated higher consolidated net profits after tax at EGP 3.10 billion, compared with EGP 1.74 billion in the previous year.
