Dubai, UAE — Allianz Egypt, the leading insurance company in the country, has announced the renewal of its Bancassurance agreement with Crédit Agricole Egypt, a subsidiary of the Crédit Agricole Group.
The partnership, which is now 20 years old, aims to provide a wide range of comprehensive insurance services and solutions to customers through Crédit Agricole Egypt’s various distribution channels.
The agreement is set to expand Allianz Egypt’s customer base while delivering top-notch insurance services to the bank’s customers, the companies said in a statement.
The collaboration aims to provide integrated financial and insurance services, covering life, property, and casualty insurance, under one roof. By achieving financial inclusion and targeting diverse customer segments and age groups, the partnership aspires to increase Allianz Egypt’s market share and contribute to a stable financial performance in the non-banking financial industry, the statement added.
Ayman Hegazy, Chairman and CEO of Allianz Egypt, emphasized the company’s commitment to building on the achievements made through alliances with prominent banks in Egypt, including the long-standing cooperation with Crédit Agricole Egypt.
Jean-Pierre Trinelle, Chairman and Managing Director of Crédit Agricole Egypt, said the collaboration with Allianz Group in Egypt has allowed Crédit Agricole Egypt to “enhance the value it brings to customers, establish a shared digital development roadmap, and expand activities in non-life insurance and the non-individual customer segment”.