The Sovereign Fund of Egypt has selected investment bank EFG Hermes to manage the offering of an approximate 20% stake in state-owned Misr Life Insurance on the Egyptian Exchange.

The target date for executing the offering is before the end of the second half of this year, according to estimates from the investment bank, the sovereign fund said in a statement.

The appointment follows an advertising campaign in newspapers and on websites designed to solicit technical and financial offers for the promotion and underwriting of the stake, ensuring transparency and equal opportunity. The sovereign fund received six bids from local and international investment banks, a response it stated reflects financial institutions’ trust in the Egyptian investment climate.

A specialised technical committee, comprising experts from the boards of Misr Insurance Holding Company and Misr Life Insurance, and supervised by the sovereign fund, evaluated the offers. The evaluation process involved intensive meetings with the bidding banks to discuss offer details accurately.

The committee applied a framework based on specific technical and financial criteria. Technical criteria included the banks’ capital markets experience, knowledge of the Egyptian insurance sector, understanding of the company’s operations and the proposed offering strategy, alongside the competence of the working team. The financial evaluation focused on the fee structure, including success fees and other transaction-related costs.

Established in 1900, Misr Life Insurance is a subsidiary of Misr Insurance Holding Company, which is affiliated with the sovereign fund. The fund described the company as a leading entity that holds an estimated 22% market share of life insurance premiums in Egypt. The company’s equity reached approximately EGP 42bn in September 2025, supported by sustainable profit growth that reflects a strong financial position and solid operational performance, the statement added.

The stake sale aligns with the Ministry of Investment and Foreign Trade’s vision and the Egyptian government’s targets to enhance private sector participation in the economy. In accordance with the State Ownership Policy Document, the offering aims to expand the ownership base of state-run companies via the stock market, enhance asset value, increase governance levels, improve financial and operational indicators, and deepen the capital market, as part of broader efforts to improve economic competitiveness and attract further local and foreign investments.

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