Souhoola Partners with MetLife to Provide EGP 7 Billion Credit Insurance Coverage for 300,000+ Customers
Souhoola, a leading provider of consumer finance solutions, has announced a strategic partnership with MetLife to deliver comprehensive credit insurance coverage for both its existing and new customer base. The initiative aligns with Souhoola’s strategy to develop integrated financing solutions that enhance customer protection throughout their repayment periods.
Comprehensive Credit Insurance and Regulatory Alignment
Under the terms of the policy, MetLife will provide credit insurance coverage through a group policy protecting against death and permanent total disability. In the event of a covered condition, MetLife will settle the customer’s outstanding financing balance directly with Souhoola, subject to the policy terms and conditions.
This partnership aligns directly with Decree No. 28 of 2026 issued by the Financial Regulatory Authority (FRA), which mandates consumer finance institutions to secure insurance coverage against death and permanent total disability for borrowing clients, supporting stability and risk mitigation within Egypt’s non-banking financial sector.
Leadership Perspectives
Ahmed El-Shanawany, CEO of Souhoola, stated:
“At Souhoola, we continuously work on developing our services to match our customers’ needs and market developments. Our partnership with MetLife adds a new dimension to the customer experience, offering added protection during repayment while maintaining our focus on delivering seamless financing and managing credit risks.”
Waleed Abdel-Mohsen, Head of Bancassurance at MetLife, commented:
“Our partnership with Souhoola marks an important step toward providing insurance solutions that keep pace with evolving market needs. Providing insurance protection alongside financing solutions contributes to a more integrated customer experience and supports sustainable market growth.”
Empowering the Non-Banking Financial Ecosystem
The insurance coverage applies automatically to eligible existing and new Souhoola customers, establishing a robust framework for managing unexpected life events while safeguarding customer financial integrity. Through this collaboration, Souhoola continues to reinforce its commitment to sector growth and regulatory compliance across Egyptian financial markets.
