TSFE to acquire MIHC, planning minister says workers' rights are a “priority”

 HE. Dr. Hala El-Said, Minister of Planning and Economic Development, who is the Chairperson of the Board of The Sovereign Fund of Egypt (TSFE), met with the managers of Misr Insurance Holding Company (MIHC) and its subsidiaries. 

 

  At the beginning of the meeting, Dr. Hala El-Said thanked Misr Insurance Holding Company, its branch directors, and all employees of the company and recognized one of the most important units of the national economy. 

 

 El-Said confirmed that the inclusion of the holding company in the fund is an important step in the further development and expansion of non-bank financial services that meet all the needs of Egyptian citizens in all sectors, and also support efforts in digital transformation. 

 

 El-Said also emphasized that the transfer of the ownership of the company to TSFE does not affect the rights of employees, but on the contrary, it aims to develop all employees, provide training opportunities, and increase efficiency.  

 El-Said also emphasized the need to develop a robust plan for the implementation of administrative mechanisms in all areas of governance, from governments to subordinate agencies, and to follow a clear standards-based approach to the implementation of these mechanisms.

 

 She added that the capacity of MIHC will be maximized and the activities of each company will be monitored to achieve the highest goals. 

 

 The CEO of Misr Insurance Holding Company Assem Ragab and the CEO Mohamed Mahran made a presentation at the meeting about the most important strategic goals of the company and their consequences, as well as the most important. 

 

 Omar Gouda, CEO of Misr Insurance Company also gave an in-depth presentation on the company, its operations, key expansion plans, and key challenges faced by the company. 

 

 Dr. Ahmed Abdel Aziz, CEO of Misr Life Insurance Company, also gave an in-depth presentation on the more than 120-year history of the company and the most important development stages of the company to become a leading company in its field. 

 

 He also completed development, processing, and transformation projects for the company's key human elements. 

 

 Maha Abdel Razek, CEO of Misr Real Estate Asset Management Company (Misr Real Estate Asset Management Company), gave an in-depth presentation on the company's real estate portfolio, which is spread across the Republic and includes a large number of heritage and non-heritage buildings. 

 

 Engineer Ahmed Deif, CEO of Misr Insurance Holding Company's newest subsidiary, Misr Finance Financial Services Company, also gave a presentation on the company's main goals, fields of work, and partnerships successfully established last year. 

 

 Reham Saeed, CEO of Misr Financial Investment Management Company, also gave an in-depth presentation on the establishment of the company and its work in managing the fee-based investment portfolio of the holding company and its subsidiaries and the ability to achieve high growth rates.