Cairo: The UK-based International Finance Magazine has granted Allianz Egypt, which comprises “Allianz Life Assurance Company – Egypt” and “Allianz Insurance Company – Egypt” - an affiliate of Sanlam Allianz Africa - two prizes, “Best Health Insurance Company” and “Best Corporate and Socially Responsible Insurance Company” in recognition of the company’s leading status in the Egyptian market. The company's international recognition is a testament to its strong strategy and dedication to developing its operations in Egypt. It has embraced a dynamic approach that prioritizes providing excellent customer care, particularly in the realm of health insurance, which has earned the trust of both corporate and individual clients. Furthermore, the company has made deliberate investments in services that enhance the insurance sector and benefit society as a whole.

The company's receipt of the "Best Health Insurance Company" award serves as a validation of its position as a leading provider of exceptional health insurance programs, catering to diverse client segments through a highly skilled and collaborative team. Allianz has consistently fostered a culture of innovation, delivering pioneering smart products and services while honing the digital proficiency of its workforce. This commitment extends to all areas of operation, with a particular focus on health insurance and mental health. The endeavors of Allianz Egypt conform to the objectives outlined in "Egypt Vision 2030" concerning digital transformation and the enhancement of the healthcare sector. In pursuit of these goals, the company has established a comprehensive medical network that encompasses top-tier healthcare providers from around the globe. Allianz has been among the pioneers entering into a partnership with "Yodawy" application, enabling seamless access to integrated digital medical services. This collaboration facilitates the convenient delivery of medications for the management of chronic illnesses, promoting instant and hassle-free healthcare solutions.

The company’s accomplishments have been reflected in its financial indicators in the health insurance sector to an operating profit of 153 million EGP. On the other hand, the gross written premiums have increased to over 1.49 billion EGP. Allianz Egypt has also been committed to covering health insurance claims worth over 975 million EGP in 2023 and serving more than 188 thousand health insurance clients.

Allianz Egypt has been awarded the “Best Corporate and Socially Responsible Insurance Company” due to its adoption of a comprehensive strategy that supports the community and drives social development. The company has placed a strong emphasis on integrating operational processes with societal investments, enabling it to effectively contribute to the implementation of the 2030 Agenda for Sustainable Development, which has been embraced by all United Nations Members. This recognition underscores Allianz Egypt's commitment to responsible business practices and its dedication to making a positive impact on both the local and global scale.

The company's impact is evident in its extensive support for sports, social integration, youth development, education, mental health, healthcare, and environmental initiatives. Allianz has actively fostered innovation and digital transformation through strategic partnerships with relevant entities. Moreover, as a responsible insurance provider, the company places great importance on adhering to environmentally sound practices and supporting global endeavors to address climate change. By prioritizing sustainability through the integration of cutting-edge technology, innovation, and digital solutions in its operations, Allianz plays a pivotal role in advancing the Egyptian insurance sector.

Allianz Egypt has demonstrated a strong commitment to expanding and diversifying its sales channels, both in the digital and non-digital realms. The company actively participates in various events and fosters partnerships with insurance agents to effectively reach a broad customer base across the nation. This approach ensures that Allianz Egypt can engage with customers through multiple avenues, leveraging both traditional and innovative methods to provide comprehensive insurance solutions, along with conducting surveys to ensure customer satisfaction with the offered services. Such a strategy has paid off as seen in the Life Assurance company’s operating profit amounting to 1.46 billion EGP with a growth rate of 39%. The Property & Casualty Insurance company has also achieved an operating profit of 562 million EGP with a growth rate of 53%.

International Finance magazine bestows awards based on: the assessment of recipient companies carried out by specialized experts who follow precise criteria as well as the companies’ firms’ commitment to international standards. A winner is further assessed based on its performance in different markets, operating in financial or non-financial sectors and other fields. The most distinguished corporation of the year - on the level of emerging markets in Africa and the Middle East - is selected accordingly.


About Allianz Egypt

In 2023, Allianz entered into a strategic alliance with the South African Sanlam, a leading Pan-African non-banking financial services company. The joint venture reiterates Allianz’s strategy of expanding its operations in African markets for business growth and the maximization of business value as well as insurance solutions offered to clients that meet all their needs. Allianz is a multinational German insurance group operating since 1890. In 1976, Allianz Egypt became a shareholder in Arab International Insurance Company (AIIC). In 2004, Allianz fully acquired AIIC under the current trade name, offering life insurance, health insurance, and property insurance services for individuals and companies through 19 branches and via strategic partnerships with leading banks in Egypt.