Egypt – “AXA” and CIB bank sign life and savings agreement
Tuesday, 07 14 2015, Category: Insurance and Reinsurance, Country: Egypt
“AXA” insurance signed an exclusive insurance agreement with Commercial International Bank (CIB) covering life and savings insurance for a 10 year period. CIB bank is ranked number one among private banks in Egypt.
And according to the press release of the company, “AXA” acquired 100% of Commercial International Life Insurance Company in Egypt which was jointly owned by “Legal & General” and “Commercial International Bank”. This company is ranked number three for life and savings insurance in Egypt. The price of the acquisition was around 88 million Euros.