Emirates NBD, Allianz Egypt renew bancassurance partnership

Emirates NBD Bank announced Wednesday it has renewed its partnership for 5 years with Allianz Egypt – one of the largest global financial services providers – for Bancassurance products and services in all its branches.

Emirates NBD signed the renewal agreement with Allianz aiming to gain 500 million Egyptian pounds (US$63.8 million) from new insurance premiums, covering life insurance Bancassurance service such as: 1) Term life insurance, 2) Lifetime financial planning, 3) Education plans, 4) Retirement plans, 5) Group life plans, 6) Group pension plans, and 7)Unit-linked insurance and investment plans with different investment funds that suits the majority of individual and corporate clients’ needs.

“We have an ambitious plan to expand in Egypt and launch innovative products to meet clients’ needs” Frederic de Melker – Head of Retail Banking & Wealth management at Emirates NBD said.

“This partnership is in line with our ambitious growth plan in Egypt throughout the coming 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.”

Emirates NBD prepares a strong start to 2016 in banking sector; putting its customer relationship as its highest priority and meeting customer’s needs as its main target. In line of its strategy, Emirates NBD is extending its strong relationship with Allianz Egypt , a wholly-owned subsidiary of Allianz SE – that has lasted over a decade, continuing the delivery of best in-class innovative Bancassurance solutions to our valued clients in the different customer segments at all its branches nationwide.

“Our main goal at Emirates NBD – Egypt, is to deliver ‘best-in-class’ customer service and product solutions for our valued customers. This partnership with Allianz Egypt fits in our strategy to combine our own strengths with the expertise of a leading Bancassurance specialist in order to meet our customers’ needs.” De Melker added

Meanwhile, as part of its commitment to this partnership with a joint portfolio of 125 million pounds, Allianz Egypt has 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.