London, 5 February 2019 – AXA Egypt is the latest local insurance provider to become a member of MAXIS Global Benefits Network (MAXIS GBN). AXA Egypt is the second MAXIS partner in the country, alongside MetLife Egypt, and joins the network of over 140 local insurers.
AXA Egypt was established in 2015 and operates as a multiline insurance group across general insurance, life and protection insurance and health insurance plans. After a record three-year period, the insurer is now ranked fourth in terms of market share with almost 1 million customers, over 650 employees and working with over 2,500 providers in Egypt. It was the first Egyptian insurance company to hold both ISO-27001 and PCI-DSS accreditations for information security and customer data protection.
The insurer has invested significantly in technology to deliver a greater suite of services and products. Innovations include telemedicine through AXA My Doctor, a mobile application that provides 24/7 access to a medical professional, as well as personalised wellness programmes and health alerts. In addition, all of AXA Egypt’s employee benefits corporate plans allow customers to build targeted solutions that meet their specific business needs.
MAXIS GBN, co-founded by MetLife and AXA in 1998, is one of the world’s leading international employee benefits networks providing global service capabilities and delivering world-class employee benefits perspectives and solutions to clients in over 120 markets around the world. MAXIS GBN has worked in partnership with over 750 multinational clients to deliver the employee benefit solutions they need to help them care for their staff and meet the strategic goals of their business.
Ayman Kandeel, CEO, AXA Egypt, said: “We are delighted to join the MAXIS network and see this milestone as further validation of our successful development. It reinforces our commitment to using data led analytics and technology to deliver customer centric solutions, resulting in both better plans and coverage. We believe the employee benefits market is only set to expand in Egypt and joining the MAXIS network will be significantly important in terms of cost savings for our customers.”
Matthew Richards, Director of Member Management, MAXIS GBN, said: “We are really pleased to be able to welcome AXA Egypt into the MAXIS network, giving multinationals even greater choice when considering employee benefits in Egypt. We’ve experienced strong growth in our network, as we continue to partner with strong local insurers who can provide high quality solutions for our multinational clients at the local level.”
About AXA Egypt
AXA Egypt is a multiline insurance group providing General Insurance, Life and Protection Insurance, Health Insurance and Micro-insurance plans. AXA general insurance products are offered by AXA General Insurance – AXA Insurance Egypt (SAE) - Registered under number 35 for year 2015 at the Insurance Companies' Registry of the Egyptian Financial Supervisory Authority. AXA general insurance products currently are Corporate Health and Corporate Property & Casualty.
AXA Life & protection products are offered by AXA Life Insurance – Egypt (SAE) - Registered under number 12 for year 1999 at the Insurance Companies' Registry of the Egyptian Financial Supervisory Authority. AXA Life & Protection products are Saving & Protection, Protection & Micro-insurance under individual & Group Life Insurance, Employee Retirement Benefit Plan and Consumer Credit Life Insurance under Corporate.
AXA established its presence in Egypt in February 2015 and received its non-life insurance company license in August 2015 to sell health and general insurance plans to its customers. In December 2015, to further develop its presence in the country AXA Egypt finalized the acquisition of Commercial International Life Insurance Company SAE (CIL) - one of the leading players in the Egyptian life insurance market. Today, AXA Egypt counts around 600 employees serving almost a million individuals and businesses nationwide.
ABOUT THE AXA GROUP
The AXA Group is a worldwide leader in insurance and asset management, with 165,000 employees serving 105 million clients in 62 countries. In 2016, IFRS revenues amounted to Euro 100.2 billion and IFRS underlying earnings to Euro 5.7 billion. AXA had Euro 1,429 billion in assets under management as of December 31, 2016.
The AXA ordinary share is listed on compartment A of Euronext Paris under the ticker symbol CS (ISN FR 0000120628 – Bloomberg: CS FP – Reuters: AXAF.PA). AXA’s American Depository Share is also quoted on the OTC QX platform under the ticker symbol AXAHY.
The AXA Group is included in the main international SRI indexes, such as Dow Jones Sustainability Index (DJSI) and FTSE4GOOD.
It is a founding member of the UN Environment Programme’s Finance Initiative (UNEP FI) Principles for Sustainable Insurance and a signatory of the UN Principles for Responsible Investment.
This press release and the regulated information made public by AXA pursuant to article L. 451-1-2 of the French Monetary and Financial Code and articles 222-1 et seq. of the Autorité des marchés financiers’ General Regulation are available on the AXA Group website (axa.com).