Emirates NBD signed an agreement with Allianz Egypt for life insurance to offer Bancassurance services for all the bank’s clients across Egypt, according to a Wednesday statement.
The agreement is a renewal for five years aims to gain EGP 500m from new insurance premiums, which covers life insurance.
The agreement includes Bancassurance services such as term life insurance, lifetime financial planning, education plans, retirement plans, group life plans, group pension plans, and investment plans. There will also be different investment funds that suit the majority of individual and corporate clients’ needs.
Emirates NBD – Egypt described the agreement as “a strong kick-off for 2016” and is among the bank’s strategy to realise integration in services offered by the bank, according to the statement.
Emirates NBD and Allianz have been in partnership for more than ten years. “Our main goal at Emirates NBD – Egypt is to deliver ‘best-in-class’ customer service and product solutions for our valued customers,” head of Retail Banking and Wealth management Frederic de Melker said. “This partnership with Allianz Egypt fits in our strategy to combine our own strengths with the expertise of a leading Bancassurance specialist to meet our customers’ needs.”
“This partnership is in line with our ambitious growth plan in Egypt throughout the upcoming years. We are confident that, with the support of Allianz, our Bancassurance product, and service set will exceed our customer expectations for saving and protection,” he said.
As part of its commitment to this partnership, with a joint portfolio of EGP125mn, Allianz Egypt assigned a professional dedicated team of more than 60 employees with Bancassurance expertise to serve all clients’ segments of Emirates NBD nationwide.
Emirates NBD – Egypt clients can simply subscribe in Allianz Assurance services through Emirates NBD banking accounts or credit cards and enjoy many distinctive services.
