AXA Life Insurance Egypt – part of AXA Group, the number one global insurance brand – and the Ahli United Bank of Egypt (AUB) – one of the Middle East’s premier financial institutions – signed a new bancassurance agreement.
Combining AUB EGYPT’s service excellence and continuous growth plans in Egypt with AXA’s globally trusted insurance expertise and best-in-class product portfolio, the partnership will provide accessibility to protection and savings, local and global health, as well as risk insurance solutions to AUB EGYPT customers. AUB EGYPT and AXA will offer comprehensive products and services to retail and corporate customers.
The agreement expands AXA Life’s distribution channels to provide peace of mind to a larger number of customers, assisting them early on in their lives, to plan for their personal and family goals. AXA financial advisers are now present at 37 AUB EGYPT branches in multiple governorates across Egypt, offering AXA’s protection and savings as well as health and life insurance products to the bank’s customers.
Underlining its ongoing focus on the health sector to ensure availability of medical insurance in Egypt, and supporting its payer-to-partner strategy, AXA will start offering both local and global health insurance products via the AUB EGYPT channel by the third quarter of 2019.
Ayman Kandeel, AXA Life Insurance Egypt’s CEO, said, “We are proud of our partnership with AUB EGYPT, as it aligns with our strategic vision of delivering insurance solutions to our customers via the easiest and most convenient channels.”
Khaled el-Shaarany, the deputy chairperson of AXA Life insurance Egypt, said, “Our ambition is to be the number 1 insurance company in Egypt and our partnership with AUB EGYPT is a step toward this goal. With a larger customer base, we now touch the lives of more Egyptians.”
Nevine El Messeery, the CEO and managing director of Ahli United Bank Egypt, stated that AUB EGYPT continues to innovate and develop its product portfolio in order to increase its consumer offering to products beyond banking. AUB EGYPT is proud to be joining forces with the biggest entity in insurance and considers AXA the right partner for the development of their bancassurance portfolio.