Egypt Post and AXA Egypt signed on Sunday a cooperation protocol to set up a micro-insurance company.
Chairman of Egypt Post Sherif Farouk said the deal would significantly contribute to the access of insurance products to low-income people.
The protocol will also provide a variety of value-added insurance services in a way that contributes to the implementation of the state’s plan to achieve financial inclusion and digital transformation of financial services, Farouk said.
Under this agreement, an integrated feasibility study will be prepared for the establishment of a micro-insurance company with a view to developing insurance solutions for people not covered by financial services from the formal financial sector, he added.
Source: State Information Service Egypt