Cairo, March 14, 2023: AXA Egypt has announced its participation as a main sponsor, and a strategic partner of the Microinsurance Conference’s 2nd edition, under the theme of “How to Empower the Future of Microinsurance”. The conference is organized by the Insurance Federation of Egypt, and under the auspices of the Financial Regulatory Authority from the 13th to 15th of March in Luxor. AXA Egypt’s sponsorship comes in line with its strategy to empower small business owners, as well as Egypt’s vision to provide various insurance services suitable for all segments.

Due to its extensive global expertise, AXA Group has succeeded in providing various services and products that meet the needs of small business owners, in addition to providing all insurance coverages that enable success and guarantee future expansions in their projects. Thereby, AXA serves around 10 million microinsurance customers in 15 countries, with a total premium portfolio amounting to EUR 140 million. In the coming period, AXA aims to grow its customer base to serve and meet the needs of more customers in the countries in which it operates.

Ayman Kandeel, Managing Director of AXA Life Insurance Egypt and Chairman of AXA General Insurance, expressed his happiness for AXA Egypt’s participation as the main sponsor of the Microinsurance Conference for the second consecutive year — rooted from its belief in the vitality of empowering micro-entrepreneurs and providing them with the necessary insurance services to improve their standard of living. Their growth and expansion in the Egyptian market, is accentuated by distinguished cadres that are capable of accelerating the implementation of that strategy.

Kandeel added: “AXA aims to increase investments in the coming period and expand its customer base in the field of microinsurance by establishing the first specialized company for microinsurance. Furthermore, AXA targets to maintain its efforts to continue offering new and cutting-edge services, since the company has succeeded in providing insurance programs that have received positive responses from customers, as these programs are primarily focused on helping customers deal with any risks that may impose a threat to their business.

Respectively, Hadil Abdelkader, Head of Emerging Customers and Public Affairs at AXA Egypt, said: “AXA benefits from its global expertise in the field of empowering micro-entrepreneurs. This stems from operating in various countries such as Turkey, Indonesia, Thailand, and others, where AXA’s microinsurance customers reached 10.1 million customers (7% increase compared to 2021), and the value of claims paid amounted to EUR 66.7 million.”

Over the course of three days, insurance industry experts, from regional and global levels, will present a number of lectures during the conference’s sessions, discussing the regulatory framework for microinsurance, how to unleash the required digital capabilities, what is needed to achieve the required growth in Egypt, and how to adjust effective tool for managing risks facing the low-income population.

The organization of this conference, for the second year in a row, stems from the success of its first edition, which witnessed the presence of more than 300 participants from insurance companies at the regional and global levels, to provide insurance support for micro-projects in the Egyptian market.