Announcement • Nov 03

Al-Wafaa Life Insurance Company completed the acquisition of Delta Insurance Company (CASE:DEIN) from Egypt Kuwait Holding Company (S.A.E.) (CASE:EKHO) and others.

Al-Wafaa Life Insurance Company proposed to acquire Delta Insurance Company (CASE:DEIN) from Egypt Kuwait Holding Company (S.A.E.) (CASE:EKHO) and others for EGP 5 billion on December 8, 2024. Wafa will acquire 100% stake or 100 million shares in Delta Insurance Company at a price of EGP 50 per share through a mandatory purchase offer in accordance with the laws and regulations applicable. The purchase price is subject to adjustments. As part of the mandatory purchase offer, Wafa aims to hold a minimum of 51% in Delta Insurance Company. In a separate agreement, AXA Egypt S.A.E proposed to acquire Delta Insurance Company from Egypt Kuwait Holding Company for EGP 5 billion. The transaction will be funded through internal resources of Wafa Assurance. The offer is valid for 20 days, starting from September 29th's trading session until the end of October 27th's trading session. The transaction is subject to consummation of due diligence investigation, approval by financial regulatory authority and other relevant regulatory authorities including FRA, Supervisory Authority of Insurance and Social Welfare of Morocco. On May 25, 2025, AXA Egypt S.A.E withdrew its plans to acquire Delta Insurance Company. As of June 11, 2025, Al-Wafaa Life Insurance Company proposed to acquire 125 million shares in Delta Insurance Company at a price of EGP 40 and intends to de-list the shares of Delta Insurance Company. As of September 28, 2025, the Financial Regulatory Authority (FRA) approved publishing the MTO prospectus. As of October 22, 2025, the deal was approved by the Board of Directors of Egypt Kuwait Holding Company. Al-Wafaa Life Insurance Company completed the acquisition of Delta Insurance Company (CASE:DEIN) from Egypt Kuwait Holding Company (S.A.E.) (CASE:EKHO) and others on November 2, 2025.

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Al-Wafaa Life Insurance Company completed the acquisition of Delta Insurance Company (CASE:DEIN) from Egypt Kuwait Holding Company (S.A.E.) (CASE:EKHO) and others.

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