Allianz Life Assurance Company Egypt, an affiliate of Sanlam Allianz Africa, has signed a five-year partnership agreement with Suez Canal Bank to develop the scope of the company’s bancassurance services.
Life insurance services will be covered as per the agreement, a step expected to maximize the company’s competence in meeting the demands of clients and offering high-quality insurance services.
“The agreement conforms to the strategy of Allianz Egypt, which is based on different spectrums relying on efficiently investing in innovative solutions that are likely to push forward the Egyptian insurance sector toward a more sustainable future,” said Ayman Hegazy, Allianz Egypt chairman and CEO.
“The company has always been seeking to forge agreements with leading corporations in different fields, while adopting visions that echo our goals and, in turn, enable our clients, who belong to different age groups, to receive insurance and financial services under one roof.”
The move reflects Allianz’s perpetual commitment toward its clients, bringing about financial inclusion, offering digitally innovative state-of-the-art services as well as making use of the different partnerships it had entered to further expand and create new opportunities.
Over the years, Allianz Egypt has maintained a portfolio of partnerships in several sectors of the country, including bancassurance, brokers, and reinsurers. The company has been working on enhancing the quality of its services through various coverage plans that fulfil the requirements of several segments of clients.
“We aim through our partnership with Allianz Egypt to maximize the value of services offered to our clients and meet their needs through over 700 branches covering more than 19 Egyptian provinces,” said Hussein El-Refaie, Suez Canal Bank’s chairman and managing director.
“Allianz Egypt has always been our preferred bancassurance service provider as a leading company in the Egyptian market for the past 45 years.”
Allianz Egypt aims to expand its distribution network as well as attract new business opportunities via innovative channels to boost the insurance sector in Egypt.