AXA Life Egypt declares EGP 126 m in shareholder dividends
Thursday, 01 16 2020, Category: Insurance and Reinsurance, Country: Egypt
AXA Life Insurance Egypt reported its board of directors declared shareholder dividends for the first time, amounting to EGP 126 million following only four years of market activity.
AXA Egypt Group’s annual revenues have exceeded EGP 3 billion, with EGP 2 billion stemming from life insurance premiums and EGP 1 billion driven by general insurance services. AXA Life insurance net profit topped EGP 128 million, while AXA General Insurance operational surplus exceeded EGP 19 million.
“Our solid performance indicators are derived from the extensive and consistent expansion strategy in the Egyptian market, driven by a growing portfolio of innovative products and often ground-breaking services developed to set new standards for the insurance sector benchmarks,” said Ayman Kandeel, AXA General Insurance Egypt Chairman and Managing Director of AXA Life Insurance Egypt. “Today, we’re happy to share our success with the people who have made it possible, our shareholders, whose trust is essential for AXA Egypt’s continued success. Guided by one of AXA’s core values, ‘Customer First’, we strive to provide insurance solutions and complementary services to our clients while always putting their best interest at heart, helping them go further in life and achieve their goals. It is this commitment that underpins our capacity to offer our shareholders a tangible and sustainable return on their investments.”
With over 30 corporate, small and medium-sized enterprise (SME), and retail products launched over the past four years, AXA Egypt has strengthened its commitment to support businesses and individuals by offering insurance solutions across all lines of business such as life insurance, medical insurance, asset insurance, car insurance and life and savings, protecting their customers against unforeseen events.
Source: Egypt Today