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Oct 2016 Egyptian Life Takaful Company, GIG (ELTC-GIG) has concluded a new bancassurance agreement with the Egyptian subsidiary company of National Bank of Kuwait which is tasked with distributing the insurer’s products through its agencies. This partnership, validated by the financial authorities, is going to broaden the horizon of ELTC-GIG and comes within an expansion strategy by means of banking networks. This is the fifth agreement concluded by the insurance company with the market’s banks.
During the 2015-2016 year, ELTC-GIG’s bancassurance product sales accounted for only 2% of the insurer’s premiums, that is 798 000 USD.
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