Oman: AXA Gulf and Bank Muscat ink 10-year bancassurance tie-up

Source: Middle East Insurance Review | Jul 2015

AXA Gulf and Bank Muscat have signed a 10-year partnership agreement to offer bancassurance products covering life protection, investment and savings to the bank’s customers.

Mr Jerome Droesch, CEO of AXA Gulf said the collaboration started in December 2013 with a successful partnership to offer health insurance to Bank Muscat customers. He added: “This strategic agreement will reinforce our relationship with Bank Muscat, allowing us to expand our life insurance solutions in Oman and at the same time ensure peace of mind, serenity and stability through unique life and savings plans to Bank Muscat customers.”

Under the latest deal, Bank Muscat’s customers will be able to purchase insurance through a phased roll-out in the bank’s 140-branch network, providing access to AXA advisors. The insurer will also provide medical insurance for Bank Muscat’s corporate clients, including small and medium enterprises.

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