PHOTO
Cairo - ALEXBANK (a member of the Intesa Sanpaolo Group) and Pharaonic American Life Insurance Company -MetLife Alico, one of the regions leading insurance companies, launched a strategic partnership to provide comprehensive Bancassurance solutions to 1.6 million customers, across the banks network of 170 branches spread across the country.
The partnership will offer a comprehensive range of products, unprecedented, to help customers save towards their goals such as childrens education, marriage or retirement as well as ensuring the family protection against unforeseen events.
During the ceremony that has been held to announce the launching of the strategic partnership, Julio Garcia-Villalon Chairman and Regional Head, Middle East & Africa - MetLife, commented, MetLife is honored to launch this partnership agreement with ALEXBANK, and we have the firm commitment to work together with a view to setting new standards across the Bancassurance industry in terms of customer experience as well as best in class products and services to ALEXBANK customers
Bassel Rahmy, Chief of Retail & SME Banking Group - ALEXBANK, said The partnership between MetLife Alico and ALEXBANK is unique in that we have taken a market specific outlook in really defining what the market needs in terms of Bancassurance products. Weve listened to our customers and designed products that feature all of the essential benefits that they need. Opposed to the usual market trend of developing a product and just adding on the benefits as individual components, weve really designed a well-thought product that is unlike anything else in the market. MetLife Alico proved to be a very strong partner with us in this regard, in that they also share a very customer-centric approach. Coupling this with our network coverage, that reaches every corner of the nation, we are able to promote this product category to several new and promising market segments for the first time."
Elena Butarova, Deputy Chairman and Managing Director MetLife Alico We believe the added value of a strong Bancassurance portfolio will benefit the bank by broadening its comprehensive portfolio of products whilst adding significant value to existing banking customer relationships. We aim to continue our momentum by offering ALEXBANKs customers access to innovative and affordable solutions that meet the unique savings and protection needs of individuals and families.
Sherif Lokman, Head of Retail and Branch Banking Group- ALEXBANK, said Bancassurance provides our customers with the dual component of having investment and protection options for themselves and their families, and we strongly believe that it is necessary to provide our customers and the market with this level of security and financial wellbeing for the future .
About AlexBank
AlexBank is one of Egypts leading private sector banks. Established in 1957, the bank later sold 80% of its shares to the Italian group Intesa Sanpaolo. The IFC subsequently became a shareholder, acquiring 9.75% of the bank to Intesa Sanpaolo. AlexBank has since launched an ambitious development strategy to move in line with Intesa Sanpaolo s innovative systems and platforms and has recently set the standard for branch design,
IT infrastructure, services and a portfolio of financial services. With a country wide network of 180 branches
and over 1.5 million customers, AlexBank represents Egypts largest private sector bank in terms of branch network and one of the largest in terms of deposits with an 8% market share.
For more information, please visit www.alexbank.com
About MetLife
MetLife, Inc. (NYSE: MET), through its subsidiaries and affiliates (MetLife), is one of the largest life insurance companies in the world. Founded in 1868, MetLife is a global provider of life insurance, annuities, employee benefits and asset management. Serving approximately 100 million customers, MetLife has operations in nearly 50 countries and holds leading market positions in the United States, Japan, Latin America, Asia, Europe and the Middle East.
About MetLife Alico
The Pharaonic American Life Insurance Company- MetLife Alico was incorporated in Egypt in 1997. It is the first life insurance company to enter the Egyptian market with a major shareholding of an international life insurance company.
Over the past years, MetLife Alicos accomplishments in Egypt have proved its capabilities in offering and distributing insurance plans & services for life insurance, accident and health insurance, retirement planning, and wealth management solutions to more than 470 thousand customers.
For more information, please visit www.metlifealico.com.eg
For media inquiries:
Ibtessam Zayed
Media Relations Director
T +202 3304 8560/1/2/3
F +202 3304 7213
M +2012 2234 5442
E izayed@webershandwick.com
W www.webershandwickmena.com
Press Release 2015
