Allianz Egypt Hosts Farewell Party and inaugurated

The board of directors of Allianz Insurance Company-Egypt and Allianz Life Assurance-Egypt organized a farewell party in honor of Mr. Jean-Claude Guerin, the Chairman of Allianz Egypt, as he will take up a senior position at Mondial Assistance, one of Allianz Group’s business units in France. Mr. Raymond Cham, currently country manager of Allianz Egypt, will chair the company.

The party was attended by Allianz business partners as well as high-profile members of the insurance industry in Egypt, in addition to members of various chambers of commerce as well as business partners welcomed by Allianz managers.

“Allianz Egypt has remained steady during the current economic downturn as has performed very well thanks to our strong capital position and our highly diversified portfolio in addition to many business initiatives that have been launched in the last 5 years.  Said Heinz Dollberg board member and Executive vice president for asia, MR, and south Africa. In a discussion with Raymond cham Insurance in Egypt still has a long way to go, with a penetration rate of about 1%, and relatively modest insurance awareness level. However, throughout the industry, Allianz is seen as a credible and trustworthy partner. In addition, Allianz presence in Egypt is truly strategic, with Egypt being the hub of the Middle East and the huge market with vast development potential.”.

“Since its inception, Allianz Egypt has achieved sustainable growth generating more than LE  713 million in insurance premiums in life and property insurance in 2009 and is expected to gain more market share in Egypt in the coming years” Quoted Raymond Cham Allianz Egypt chairman