AXA Egypt eyes 25% surge in premiums at end-FY2019

Big 5

Life insurance group AXA Egypt says it targets an increase between 20 percent and 25 percent in its premiums to 2 billion Egyptian pounds ($115.3 million) at the end of financial year 2018/2019.

“The premiums increased 23 percent to 1.6 billion pounds at the end of financial year 2017/2018,” AXA’s chief executive Ayman Kandil said on Tuesday on the sidelines of signing a partnership deal with Ahli United Bank.

Also, AXA plans to boost its premiums within the next period through promoting bancassurance products, Kandil added.