Allianz Egypt partners with Suez Canal Bank to foster bancassurance services

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Cairo - Allianz Life Assurance Company Egypt penned a five-year partnership agreement with Suez Canal Bank to boost the company’s bancassurance services.

The deal covers life insurance services to enable the firm to meet the clients’ demands and offer enhanced insurance services, according to a press release.

The collaboration aligns with Allianz Egypt’s strategy to reinforce financial inclusion, provide digitally advanced services, and enter into partnerships to further expand and create new opportunities.

Ayman Hegazy, the Chairman and CEO of Allianz Egypt, commented: “The agreement conforms to the strategy of Allianz Egypt, which is based on different spectrums relying on efficiently investing in innovative solutions that are likely to push forward the Egyptian insurance sector toward a more sustainable future.”

“The company has always been seeking to forge agreements with leading corporations in different fields while adopting visions that echo our goals and, in turn, enable our clients, who belong to different age groups, to receive insurance and financial services under one roof,” Hegazy added.

On his part, Hussein El-Refaie, the Chairman and Managing Director of Suez Canal Bank, said: “We aim through our partnership with Allianz Egypt to maximise the value of services offered to our clients and meet their needs through over 700 branches covering more than 19 Egyptian provinces.”

The Managing Director of Allianz Life Assurance, Charles Tawdros, indicated: “The deal with the Suez Canal Bank, which delivers its services through more than 50 branches, reflects how the company is optimistic about what such cooperation can realise.”