Allianz Egypt renews partnership with Banque Misr for life insurance

Reuters Images/Mohamed Abd El Ghany

The renewal of the 20-year life insurance partnership aims to provide comprehensive insurance services to Banque Misr’s clients,

Staff Writer, Mubasher

December 27, 2022

PHOTO

Allianz Egypt has extended its strategic partnership with Banque Misr for five years and added property and casualty insurance to its products.

The renewal of the 20-year life insurance partnership aims to provide comprehensive insurance services to Banque Misr’s clients, according to a press release on Tuesday.

Moreover, it aims to launch a diversified set of insurance products, while developing the service mechanism the insurer offers to meet the different needs of the lender's customers in one place through over 350 bank branches spread nationwide.

Renewing the cooperation will double Allianz Egypt's business portfolio. Over the coming five years, the insurer will target gross written premiums (GWPs) of EGP 8 billion, compared to EGP 3.60 billion at the time.

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