Latest news with #Egypt2024
Zawya
02-03-2025
- Business
- Zawya
Allianz Life Assurance Egypt won the "Best Life Insurance Company – Egypt 2024" award
Cairo, Egypt: Allianz Life Assurance Egypt, a leading insurance provider and an affiliate of SanlamAllianz Africa, has been honored with the 'Best Life Insurance Company – Egypt 2024' award by Global Business Outlook in recognition of its significant role in the life insurance sector. This award reaffirms the company's commitment to developing innovative insurance solutions that cater to the evolving needs of its customers, contributing to insurance inclusion and supporting the Egyptian economy. Allianz Life Assurance Egypt continues to reinforce its position in the Egyptian market by expanding its strategic partnerships across bancassurance and insurance brokerage. Leveraging the expertise of seasoned industry professionals, the company remains dedicated to creating meaningful value for its customers, solidifying its status as Egypt's leading insurer of choice. By placing innovation and technology at the core of its growth strategy, Allianz Life Assurance Egypt is elevating the customer experience through advanced digital solutions. This forward-thinking approach ensures the efficient and accessible delivery of insurance services by enhancing operational performance, expanding distribution channels, and offering seamless, user-friendly solutions. Furthermore, Allianz Life Assurance Egypt continues to support local communities by adopting environmental and social practices aligned with national goals. The company serves as a leading model in corporate social responsibility, reinforcing its role as a responsible investor through its support for various sectors. It is also worth noting that Allianz Life Assurance Egypt has been recognized among the top 150 insurance companies in the MENA region for profitability, according to a report from APEX. The company ranked 19th in the regional life insurance market and 2nd locally. Additionally, Allianz Life Assurance Egypt was recognized as the 'Best Insurance Company in Africa for 2022' by the African Insurance Organization (AIO) in collaboration with Africa Re. Over the past five years, the company has consistently maintained its position as the second-largest life insurer in Egypt, as reported by the Financial Regulatory Authority (FRA), reflecting its strategic strength and resilience in navigating market challenges. About Allianz Allianz Egypt belongs to the 'SanlamAllianz' Alliance. The Alliance represents a strategic partnership between Sanlam Group, the largest non-banking financial services company in Africa, and Allianz Group, multinational German insurance company. The alliance serves as a catalyst for the expansion strategies of both groups in the African market, with a shared vision of driving growth and delivering comprehensive insurance services and solutions that cater to the diverse needs of their clients. Established in 1976 as Arab International Insurance Company (AIIC), Allianz Egypt Insurance Company became part of the Allianz Group in 2001. In 2004, the company underwent a restructuring and adopted its current brand names; Allianz Insurance Company, providing Medical Insurance and Property & Casualty Insurance services to individuals and businesses, and Allianz Life Assurance Company, providing life insurance services to individuals and businesses, relying on a network of 19 branches and strategic partnerships with major banks in the country.
Zawya
16-02-2025
- Business
- Zawya
Damen Cash recognized as Best New Mobile Payment App at Global Economics Awards 2024
Cairo: Damen ePayment is proud to announce that its innovative mobile payment application, Damen Cash, has been awarded the prestigious title of Best New Mobile Payment Application - Egypt 2024 at The Global Economics Awards. This recognition comes just one year after its launch, highlighting Damen Cash's rapid impact on the digital payment landscape in Egypt. The Global Economics Awards team praised Damen Cash, stating, "Your commitment to advancing the mobile payment industry in Egypt is truly inspiring. We are thrilled to recognize Damen Cash for its exceptional contribution to financial inclusion and digital transformation." Launched on February 19, 2024, Damen Cash aims to reduce cash reliance and provide accessible financial services to all segments of society, including low-income individuals and those in remote areas. The app aligns with Egypt's digital transformation strategy and offers over 600 services, making it a comprehensive solution for users. Damen Cash is the first in Egypt to offer unique NFC Gas services in collaboration with leading gas companies, including Petrotrade, Natgas, Taqa, Fayoum Gas Company, and Overseas. The app has undergone rigorous penetration testing and holds certifications to ensure the highest levels of data security and user privacy. As part of its commitment to enhancing digital payment solutions, Damen ePayment has partnered with BKN301, a leading global provider of Banking-as-a-Service (BaaS) solutions. Through this collaboration, Damen Cash will leverage BKN301's advanced payment processing and core banking technologies, further enhancing transaction efficiency, security, and scalability. Eng. Sameh El Mallah, CEO of Damen, expressed his pride in the achievement, stating, "We are proud of Damen Cash. By adhering to global standards for information security, we ensure the safety of personal data and financial transactions, building trust with our users. Damen Cash stands out with its unique NFC Gas services and comprehensive range of over 600 services, all designed to meet the diverse needs of our customers." Stiven Muccioli, CEO of BKN301, added: "BKN301 is proud to partner with Damen to develop an innovative app that enhances Egypt's digital payment ecosystem. Together, we drive secure, seamless transactions and promote financial inclusion to support the country's growing Fintech landscape." Damen Cash also prioritizes customer experience, offering 24/7 technical support to resolve any issues immediately. "We are confident that our advanced financial services and expertise will contribute to the growth of the fintech and electronic payment sector in Egypt," added El Mallah. Download Damen Cash today from the App Store or Google Play and experience seamless, secure, and innovative digital payments! About Damen Damen is a leading electronic payment company established in 2018 with the aim of providing electronic payment solutions for individuals, institutions, and financial services as part of the Egyptian government's financial inclusion initiatives. Drawing on the expertise and support of its parent company, Smart Digital Services, a leading technology solutions provider, executed projects such as managing the distribution of subsidized goods and bread to approximately 20 million citizen daily using smart cards. With over 23 branches across Egypt, Damen offers over 600 electronic payment and collection services, including donations to institutions and charities, electricity and gas card, mobile and landline bills payments. It serves a network of over 100,000 merchants across all Egyptian governorates.
