January 14, 2022

AAIB signs five-year bancassurance agreement with AXA Egypt

The deal is in line with the bank’s strategy to deliver the best financial and non-financial services and quality products withadded-value services to meet its customers’ needs.

The Arab African International Bank (AAIB) announced on Wednesday the signing of a five-year bancassurance agreement with AXA Egypt, offering enhanced, outstanding insurance services to its customers.

The deal is in line with the bank’s strategy to deliver the best financial and non-financial services and quality products withadded-value services to meet its customers’ needs.

Under the agreement, over 20 products of AXA Life Insurance Egypt and AXA General Insurance will be available to AAIB customers in 42 main branches, enabling them to enjoy a range of AXA products, including health and life insurance as well as savings and protection plans.

“We are glad to tie up with AXA, given its international legacy and successful record in Egypt. This partnership is aligned with our main strategy pillars: Financial resilience, customer centricity, agility, and innovation. The AAIB and AXA’s partnership will offer a wide range of insurance products that are tailor made to suit our customers’ requirements and attain their satisfaction, creating a positive impact on society,” Managing Director and Vice Chairman of AAIB Sherif Elwy stated.

“We are proud of this partnership which aligns with AXA’s strategy to expand in Egypt by reaching a larger customer base via new distribution channels,” said Ayman Kandeel, the Managing Director of AXA Life Insurance Egypt and Chairman of AXA General Insurance.

“I would like to extend my thanks and gratitude to the AAIB for trusting AXA Egypt to become its insurance partner,”Kandeel added, noting that the AAIB is one of Egypt’s pioneering banks, which has achieved rapid growth in a record time.

“Together, we seek to focus on meeting the needs of the AAIB’s customer base through AXA insurance protection solutions.”

Dina Zikry, the Head of Consumer Banking and Financial Inclusion at the AAIB said that the insurance plans offered by AXA through the bank’s branches are selected based on the branch’s density, as they include programmes developed specifically for our customers to help them set their plans.

“This approach will enable us to offer seamless, resilient services based on the customers’ choices that match their needs and plans,” Zikry said.

“We also seek, through our cooperation with AXA Egypt, to achieve our goals and strategy and to continue our ongoing efforts to deliver splendid services to our customers, which are in line with the latest innovative banking and non-banking technology solutions that suit our customers, make them feel more comfortable, open up opportunities for them to meet their aspirations, and enable them to benefit from more services.”

“We are committed to the fair geographic distribution of our services and products, and this partnership helps us achieve this goal. We want all our business lines to be available across the length and breadth of Egypt, providing a one-stop shop that caters to all insurance and financial planning needs under one roof. Delivering these services via partner banks adds a convenience factor for accessing insurance services,” said Omar Shelbaya, an AXA Life Insurance Egypt Board Member.


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