Magazine date:
Oct 2016 Ecobank Rwanda is now marketing insurance products in partnership with Moroccan group Saham Assurance. It is the first bank that carries out bancassurance operations in the country.
This partnership comes at a time when insurers’ operating costs and loss experience are on the rise. Moreover, competition between the different players is increasing, hence, putting pressure on turnover. This agreement is therefore set to reduce Saham Assurance’ operating costs and increase the profitability sought by both partners. Ecobank, strong with its 30 000 customers, will attempt to attract bank account holders with the insurance products of the Moroccan company.
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