Egyptian FRA Approves Fawry to Establish Microinsurance Arm

Fawry has secured approval from the Financial Regulatory Authority to establish a microinsurance subsidiary in Egypt, with a starting capital of LE 60 million.

The new entity, Fawry for Microinsurance, will be 90% owned by the company and will focus on providing basic, low-cost coverage across health, life, personal accidents and assets.

The offering is aimed at underserved segments, including gig workers and small businesses, expanding access to insurance products through Fawry’s existing digital payments network.

The move adds insurance services to Fawry’s broader fintech platform, which has primarily focused on digital payments and financial services distribution.

The company reported financial growth in its latest results, with net income rising to LE 2.9 billion and revenue reaching LE 8.7 billion on a year-on-year basis.