Al-Ahli Bank of Kuwait – Egypt (ABK-Egypt) announced on Sunday the renewal of its bancassurance partnership with MetLife Egypt for an additional seven years, extending a collaboration that has spanned more than a decade and significantly expanded insurance coverage for the bank’s customers.
The renewal was formalized at a signing ceremony attended by senior executives, including Iman El-Essawy, Head of Retail Banking at ABK-Egypt, and Walid Abdel Mohsen, Bancassurance Director at MetLife.
Haitham Taher, Vice Chairman and Managing Director of MetLife Egypt, said the extended partnership underscored the company’s commitment to advancing the bancassurance model as a driver of financial inclusion. “With seven active bancassurance partnerships today, we remain focused on enhancing insurance accessibility in line with Egypt’s Vision 2030. These partnerships go beyond products; they support building a more inclusive and sustainable financial system that fosters long-term growth,” he said.
Khaled El Salawy, CEO and Managing Director of ABK-Egypt, described the renewal as a reflection of the partnership’s “outstanding performance and significant growth” in policy issuance. “This step reaffirms our commitment to offering integrated financial solutions, with bancassurance forming a cornerstone of our growth strategy,” he added.
Iman El-Essawy, Head of Retail Banking at ABK-Egypt, emphasized that since the partnership began in 2015, MetLife had consistently honored claims, reinforcing customer trust. She noted the agreement would strengthen cooperation in providing tailored insurance solutions through the bank’s 46 branches nationwide.
Under the agreement, MetLife will continue offering a range of products, including life insurance, savings-linked protection plans, personal accident coverage, and health insurance for surgical care. Walid Abdel Mohsen of MetLife said the renewal would allow both sides to broaden their customer base and enhance confidence in bancassurance solutions.
