AXA: Insurers’ greater presence ‘pivotal’ to insure foreign investments in Egypt

French insurance group AXA’s Deputy CEO Denis Duverne stresses the importance of expanding into the Egyptian insurance market to insure the country’s economic development and growing foreign investments there.

This comes after the French insurer announced a week earlier the launch of its Egyptian arm, AXA Egypt.

AXA is determined to increase its presence in Africa, Duverne added.

Duverne made his remarks on the sidelines of a press conference to announce the launch of AXA Egypt a week earlier. The French insurer announced during the conference that it has obtained the licence to start insurance activities in Egypt from the market regulator, the Egyptian Financial Supervisory Authority (EFSA).

AXA Egypt offers life, health, property, accident insurance services for individuals, Small and Medium-sized Enterprises (SMEs), and corporations.

AXA, France’s largest insurer, is a multinational, investment banking firm headquartered in the 8th arrondissement of Paris that engages in global investment banking, securities, investment management, insurance, and other financial services.

AXA is one of the world leading insurance and asset management groups, serving 102 million clients, individuals and business, in 56 countries.