Taher: Bancassurance premiums reached nearly EGP 1.5 billion in the past fiscal year

Cairo –MetLife Egypt celebrated 10 years of successful bancassurance services with a distinguished ceremony attended by a host of Egypt’s banking sector leaders, including Haitham Taher, Deputy Chairman & Managing Director of MetLife Egypt, and Michael Mansour, Head of Bancassurance at MetLife EMEA.

Over the past decade, MetLife Egypt has achieved significant growth, becoming one of the leading companies in bancassurance within the Egyptian market. The Company has established strategic partnerships with seven prominent banks, including Alexandria Bank in 2014, Al-Ahli Bank of Kuwait (ABK) in 2015, Mashreq Bank and Abu Dhabi Islamic Bank (ADIB) in 2020, and First Abu Dhabi Bank – Egypt (FAB) in 2021, as well as the Export Development Bank of Egypt (EBank) and Banque du Caire in 2024. Through these partnerships, MetLife now serves customers across 610 bank branches nationwide, reaching 500,000 bancassurance and credit insurance clients.

“Our partnerships with banks have been a cornerstone of our success and growth in the Egyptian market. These alliances are not simply business arrangements but strategic collaborations that enable us to create comprehensive and tailored insurance and financial products that meet the evolving needs of clients. We are committed to expanding these partnerships to reach a larger customer base and are focused on developing a broad range of insurance products that cover protection, savings, and investment needs, supporting financial inclusion in alignment with Egypt’s Vision 2030.” remarked Haitham Taher, Deputy Chairman & Managing Director of MetLife Egypt.

“We are immensely thrilled with what we have accomplished over the past ten years in bancassurance. Our premiums reached nearly EGP 1.5 billion in the fiscal year ending June 30, 2024,” Recognizing that true success lies in providing the right products to the right customers, MetLife places a high priority on sales quality and aims to meet the unique needs of each client through custom-tailored solutions rather than focusing solely on achieving high sales figures, The Company is dedicated to ensuring customer satisfaction by building enduring relationships, so clients can rely on MetLife as a vital part of their daily lives.

“Our bancassurance sector continues to experience notable growth, which we view as only the beginning, with promising opportunities on the horizon. Our goal is to be the first choice in bancassurance in Egypt by strengthening our partnerships with financial institutions and offering products that deliver real value,” said Walid Abdel Mohsen, Bancassurance Director at MetLife Egypt. “We are dedicated to providing an exceptional customer experience by enhancing our services and expanding our insurance solutions to support our clients at every stage of their lives and reinforce our leadership in bancassurance.”

MetLife Egypt’s success stems from a commitment to delivering innovative insurance solutions tailored to the needs of the Egyptian market. The Company continuously adapts to technological advancements and leverages digital platforms to offer best-in-class service, while it remains focused on an ambitious growth plan to increase its bank partnerships and deliver advanced insurance solutions that meet both current and future client expectations.

About MetLife:

MetLife is one of the leading companies providing insurance solutions locally and globally. MetLife (formerly Pharaonic American Life Insurance Company - MetLife Alico) was established in Egypt in 1997 and was the first life insurance company to enter the Egyptian market with significant international contributions to life insurance. For over 25 years, MetLife has proven its ability to offer and distribute life insurance, accident insurance, health insurance, retirement planning, and wealth management solutions to over a million clients in the Egyptian market.