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Raya Holding aims to set up micro-insurance company  

Raya Holding aims to set up micro-insurance company  

ArabFinance: Raya Holding for Financial Investments (RAYA) is seeking to complete its financial inclusion strategy by considering the establishment of a micro-insurance company under the umbrella of its subsidiary Aman Holding, Raya’s Chairman Medhat Khalil revealed in an interview to Al Mal’s CEO Level.

The company is also targeting to achieve an annual growth rate of 35% to 40% in the non-banking financial sector in the coming three years, Khalil said.

It is worth noting that Aman Holding is 76%-owned by Raya Holding, while the National Bank of Egypt (NBE) holds the remaining 24% stake.

Established in 1999 and listed on EGX in 2005, Raya operates within the software and services sector, focusing on information technology consulting and other services.

It has subsidiaries operating across North America, the British Islands, Northern Africa, Western Africa, and the Middle East.

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04 Oct 2021
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