(MENAFN) French AXA Insurance Company announced investing USD127.7 million during the first year in Egypt, which will be followed by another USD63.71 million over the next three years.
The French firm said that it has received the license to start its insurance activities in the North African country from the Egyptian Financial Supervisory Authority (EFSA) regulator.
French insurer is set to offer life, health, property, accident insurance services for individuals, Small and Medium-sized Enterprises (SMEs), and corporations, the company said.
Deputy Chief Executive Officer of AXA Insurance Company said that Africa in general and Egypt in particular represents a great strategic importance for AXA Group.
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