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AXA’s insurance advisors will also provide one-stop insurance solutions to the Bank’s SME customers
Oman - Reinforcing its commitment to the Sultanate of Oman, AXA, the number one global insurance brand, signed an agreement with Bank Muscat, the leading bank in the Sultanate, at the Bank’s premises to expand its partnership by offering a range of additional insurance solutions to the bank’s customers.
This move comes a few years after both parties signed a 10-year strategic collaboration offering life insurance, medical, and investment and savings to Bank Muscat customers. The new announcement will see AXA adding motor, home, yacht, art and SME insurance solutions to the portfolio of services available to the bank’s customers.
“We are very proud to strengthen our relations with Bank Muscat and offer new enhanced products to its customers,” said Jonathan Jane, General Manager for Bahrain, Oman and Qatar at AXA. “At AXA, we have always focused on delivering our stated purpose of empowering people to live better lives, and we believe that through this collaboration, customers will enjoy peace of mind by having all the services they need under one roof.”
Bank Muscat customers will be able to purchase the new insurance solutions through AXA’s insurance advisors based in the network of the bank’s 30 branches spread across Oman and through a team of dedicated account executives for quality service.
Abdullah Tamman Al Mashani, DGM – Institutional Sales and Product Development at Bank Muscat said “Bank Muscat is proud to reinforce its partnership with AXA and widen the range of innovative insurance products covering all major segments and life situations. The unique products are in response to the genuine requirement for comprehensive insurance plans in Oman. As the Sultanate’s flagship bank which accords priority to the needs of customers, the focus is to provide innovative services and products at competitive rates and in a transparent manner.”
Recent reports indicate that insurance penetration in Oman is estimated at 1.5 per cent, which is much lower than neighbouring GCC countries. However, the market is steadily growing after the recent announcement of compulsory healthcare insurance in the Sultanate.
“The insurance market in Oman is rapidly evolving and we are happy to play a pivotal role in its progression,” added Jonathan. “We are always looking for ways to improve the customer journey. Together with our global expertise and technical capabilities, combined with Bank Muscat’s strong regional presence and financial offerings, we will be able to create a unique platform for growth.”
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ABOUT AXA
AXA, one of the largest global insurers, is a worldwide leader in Insurance and Asset Management with a purpose of empowering people to live a better life. In the Gulf region, AXA has been present for more than 65 years, offering a wide range of insurance products and services for corporate, SME and individual customers.
AXA in the Gulf is one of the largest international players in the GCC, covering the UAE, Oman, Bahrain and Qatar markets, with a workforce of over 765 employees, 22 branches and retail shops region-wide and close to 1 million customers. With a range of products and services tailored to each customer, covering property & casualty insurance and life & health insurance, AXA in the Gulf is a multi-lined one-stop shop insurer.
Additionally, AXA is focused on helping the world better face climate risk, while also extending protection and risk knowledge to the public, in an effort to contribute to global economic development and become a trusted partner for customers in the region.
Recognised as a leading insurance brand, AXA has been winning several awards for its quality of services and products, and remains the #1 Global Insurance Brand for the 9th consecutive year as per Interbrand rating.
Website: www.axa-gulf.com
For further information, please contact:
Ahmed Salah
GolinMENA
+971 50 661 8491
© Press Release 2018
