Post Investment Company -- the investment arm of the Egyptian Post -- and AXA Egypt plan to obtain the final licence for Sawa Microinsurance Company and launch the joint venture in the second quarter of 2026.
Sawa is the first to secure approval from the Financial Regulatory Authority to establish a standalone microinsurance company. The approval is granted under the Unified Insurance Law passed in 2024, which provides for a regulatory framework for microinsurance.
The formation of Sawa falls under the strategic partnership announced by the two companies in October 2024, shortly after the passage of the Unified Insurance Law, to launch a new insurance entity aimed at expanding insurance protection for low-income groups.
Mr Ahmed Ali Abdel Rahman, Managing Director and CEO of Post Investment Company, said Egypt Post will be a key partner in the distribution of Sawa’s products, through post offices spread across various cities and villages, especially in areas with limited access to traditional financial services, reported Amwal Alghad, quoting a statement from Egypt Post.
He added that the partnership with AXA reflects the Postal Investment Company’s approach to leveraging global expertise to offer a range of innovative microinsurance products for individuals and groups.
Egypt Post’s Chairperson Dalia El-Baz said that the partnership between the Post and AXA is in line with the vision of the National Postal Authority to make the postal network available to companies operating in the field of non-banking financial services, enabling the provision of an integrated range of services and products that contribute to achieving financial inclusion, including insurance.