GIG’s bancassurance activity hits EGP 80 mln in H1-FY2018/19

Egyptian Life Takaful Company- GIG says it has posted premiums of 80 million Egyptian pounds ($4.6 million) obtained from a bancassurance deal signed with four banks during the first half of financial year 2018/2019.

“We are looking to increase our premium portfolio collected from bancassurance activity within the upcoming period to exceed 100 million pounds within the current financial year 2018/2019,” GIG’s managing director Ramah Asaad told Amwal Al Ghad on Wednesday.

GIG is currently promoting its products through four banks; Bank Audi-Egypt, Abu Dhabi Islamic Bank (ADIB) – Egypt, Banque Misr’s Islamic Transactions branch, and National Bank of Kuwait (NBK) – Egypt, Asaad further said.

The firm has recently reached a bancassurance partnership with The First Abu Dhabi Islamic Bank (ADIB) to launch bancassurance services, he added.