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EFG Hermes, GB Capital launches Kaf in Egyptian insurance market

EFG Hermes, GB Capital launches Kaf in Egyptian insurance market

Arab Finance: EFG Hermes Holding (HRHO) and GB Capital have launched Kaf in the Egyptian insurance market, according to an emailed press release on September 26th.

After EFG Hermes and GB Capital acquired a 75% stake in Tokio Marine Egypt Family Takaful in 2020, the latter has been rebranded as Kaf.

Since the completion of the takeover, Kaf is now covering the lives of about 2 million customers in Egypt from the pre-acquisition record of 0.1 million customers.

“Kaf aims to make insurance simpler, more accessible, and hassle-free to the wider strata of the Egyptian population, all through a trusted platform that caters to the various needs of the company’s clients,” the release added.

“True to its name, Kaf aims to secure client satisfaction through ease of accessibility, minimal bureaucracy, and absolute transparency. In short, Kaf promises to make insurance easy and well-suited for its customers,” the release noted.

Established in 2021, Kaf is an Egypt-based insurance company licensed to provide customers with life, savings, and health insurance services.

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