Egyptian Life Takaful Company (GIG) is in talks with National Bank of Kuwait (NBK) to promote bancassurance via the bank’s branches. GIG has bancassurance alliances with three banks including Audi Egypt, ADIB Egypt and Banque Misr. The managing director of GIG Ramah Asaad said the insurer is planning to bring in premiums of EGP35mn from bancassurance during the financial year 2016-17, compared to EGP21mn in the past year. (Al Mal) National Bank of Kuwait: KWD0.73 as of 21 Feb. 2017, Rating: Buy, TP: KWD0.71/share, MCap: USD13,272mn, NBK KK/NBKK.KW Abu Dhabi Islamic Bank - Egypt: EGP7.86 as of 21 Feb. 2017, Rating: Buy, TP: EGP9.98/share, MCap: USD100mn, ADIB EY/ADIB.CA Bank Audi: USD6.71 as of 21 Feb. 2017, Rating: Buy, TP: USD7.58/share, MCap: USD2,682mn, AUSR LB/AUSR.BY
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