ALEXBANK launches Bancassurance Programme with MetLife Alico

ALEXBANK and Pharaonic American Life Insurance Company (MetLife Alico) launched last week a strategic partnership to provide comprehensive Bancassurance solutions to 1.6 million customers, across the bank’s network of 170 branches spread across Egypt.

The partnership will offer a comprehensive range of products to help customers save towards their goals such as children’s education, marriage or retirement, as well as ensuring the family protection against unforeseen events, the bank said in a statement.

“Opposed to the usual market trend of developing a product and just adding on the benefits as individual components, we’ve really designed a well-thought product that is unlike anything else in the market,” said Bassel Rahmy, head of ALEXBANK’s Retail & SMEs.

During the ceremony that has been held to announce the launching of the strategic partnership, Julio Garcia-Villalon – Chairman and Regional Head, Middle East & Africa – MetLife, commented: “We have the firm commitment to work together with a view to setting new standards across the Bancassurance industry in terms of customer experience as well as best in class products and services to ALEXBANK customers.”