Iskan Insurance Company has recently started bancassurance activities through two branches of the Housing and Development Bank (HDB), said Iskan’s managing director Hammam Badr.
Speaking to Amwal Al Ghad on Sunday, Badr stated that Iskan began a few days ago promoting its insurance products through HDB’s two branches, one in Cairo and another in Alexandria. The insurance company is practicing bancassurance activities in accordance with regulations set by the Egyptian Financial Supervisory Authority (EFSA) and the Central Bank of Egypt (CBE).
Through bancassurance, Iskan aims to attract new segments of customers so as to boost the company’s portfolio, he added.
Furthermore, Badr referred that Iskan Insurance plans to sign another bancassurance agreement with more banks, as a part of a framework of the company’s strategy to target residents of villages and hamlets in Egypt.