Arab Finance: Fawry for Banking Technology and Electronic Payment has obtained approval from the Financial Regulatory Authority (FRA) to incorporate Fawry for Microinsurance, according to a press release.

The micro-insurance company will offer a wide range of simple, low-cost insurance products tailored to the needs of microbusinesses, gig economy workers, and mass-market consumers.

Initially, Fawry will focus on essential protection categories, including health, life, personal accident, and asset coverage.

The group will leverage its extensive nationwide infrastructure, including more than 350 Fawry Plus branches, a merchant network exceeding 375,000 points of sale, and digital channels with over 24 million myFawry app downloads, to distribute these products at scale.

This will enable customers to seamlessly access and enroll in insurance products through everyday touchpoints, advancing the state’s financial inclusion in line with the strategic direction of the Central Bank of Egypt (CBE) and the FRA.

Fawry for Microinsurance has a paid-in capital of EGP 60 million, with Fawry holding a 90% stake. Through its data capabilities, Fawry aims to design customer-centric insurance products that address real-life risks and usage patterns.

Ashraf Sabry, CEO of Fawry, commented: “Insurance remains underpenetrated in Egypt, particularly among micro and informal segments. By embedding insurance into our existing payment ecosystem, we can offer relevant, affordable protection in a seamless and trusted manner.”

In 2025, Fawry achieved consolidated net profits after tax and non-controlling interest worth EGP 2.889 billion, an annual rise of 79.83% from EGP 1.606 billion. Likewise, standalone net profits after tax increased to EGP 2.322 billion last year from EGP 1.405 billion in 2024.