Arab Finance: Misr Life Insurance has entered into a strategic partnership with Egypt-based consumer finance app TRU to provide insurance coverage for outstanding financing balances exceeding EGP 3 billion across a portfolio serving more than 130,000 customers, as per an emailed press release.
The agreement will cover outstanding balances in the event of death or total permanent disability.
By combining digital financing with insurance coverage, the two companies aim to broaden financial inclusion and support the development of Egypt’s non-banking financial services sector, with an emphasis on governance and an integrated customer experience.
Ahmed Essam Seoudy, board member and CEO of TRU, said the app had attracted more than 130,000 customers in less than two years and recorded sales exceeding EGP 7 billion. That growth, he added, made it necessary to expand customer protection alongside the business.
Seoudy added that working with MLIC would provide additional protection for customers and their families while strengthening TRU’s ability to manage risk and sustain portfolio growth, noting that the collaboration is a step toward offering customers a more comprehensive and secure financial experience.
