Cairo – Mubasher: Allianz Egypt, the leading insurance company in the country affiliated to Allianz Global Investors, has extended its strategic partnership with Banque Misr for the coming five years.
Besides life insurance services provided over the past 20 years with Banque Misr, Allianz Egypt will offer property insurance services through the bank, according to a press release on Tuesday.
The renewal of the partnership aims to provide integrated insurance services to Banque Misr’s clients. Moreover, it aims to launch a diversified set of insurance products, while developing the mechanism for the services the insurer offers to meet the different needs of the lender's customers under one roof through over 350 bank branches spread all over Egypt.
Renewing the cooperation will double Allianz Egypt's business portfolio. Over the coming five years, the insurer will target gross written premiums (GWPs) of EGP 8 billion, compared to EGP 3.60 billion at the time.
