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Cairo, Egypt, 09 ـJuly 2024: Abu Dhabi Commercial Bank – Egypt announced the renewal of its strategic partnership agreement with Allianz Life Assurance Company Egypt – an affiliate of Sanlam Allianz Africa –for five years. The signing ceremony was held in the presence of Ihab ElSewerky, Managing Director and Chief Executive Officer at Abu Dhabi Commercial Bank Egypt, Adel Hashem, Chief Retail Banking Officer at Abu Dhabi Commercial Bank (ADCB) Egypt, Charles Tawdros, CEO of Allianz Egypt and MD of Allianz Life Assurance Company – Egypt, and Ayman Hegazy, Former Chairman and Chief Executive Officer at Allianz Egypt, along with senior management representatives and executives from both parties.
This partnership is part of Abu Dhabi Commercial Bank – Egypt’s commitment to delivering innovative banking solutions to its customers, aiming to become their bank of choice. It also aligns with Allianz Egypt’s dedication to innovation and its commitment to providing the best financial services that meet the needs of a diverse customer base, thereby enhancing Allianz Egypt’s presence in the Egyptian market.
Ihab ElSewerky, Managing Director and CEO of Abu Dhabi Commercial Bank – Egypt, commented, “We are pleased to announce our partnership with Allianz Egypt, marking the culmination of a collaboration that began with the bank’s establishment in Egypt in 2020.
This strategic partnership will enable us to continue delivering comprehensive insurance services and innovative, value-added solutions that cater to the diverse needs and aspirations of our customers, aligning with our strategy focused on enhancing customer satisfaction and reinforcing our position in the Egyptian market”.
During the signing ceremony, Charles Tawdros, CEO of Allianz Egypt and MD of Allianz Life Assurance Company – Egypt, expressed his excitement for renewing the strategic partnership with Abu Dhabi Commercial Bank Egypt, which holds a prominent position in the Egyptian banking sector. He stated, “Since establishing this partnership, we have expanded our presence, enabling us to serve the bank’s customers through 50 branches. Leveraging the bank’s diverse distribution channels and customer segments, we provide comprehensive insurance products and services via bancassurance. These offerings feature flexible terms and payment methods tailored to meet their specific financial needs and plans.”
Tawdros further added that this initiative is part of Allianz Egypt’s strategy to enhance its footprint in the Egyptian banking sector. The company aims to achieve this through diverse distribution channels, including bancassurance, across various sectors. This strategic effort not only strengthens Allianz’s position as a leading entity and responsible investor in the insurance industry but also highlights its commitment to raising awareness about the importance of insurance among customers and partners. Nevertheless, Allianz Egypt aims to make a positive social impact by promoting core values of cooperation, integrity, care, and innovation.
