AXA has completed the acquisition of CIL in Egypt

AXA announced today that it had completed the acquisition of 100% of Commercial International Life Insurance Company (CIL), a leading Egyptian Life insurance player, for a cash consideration of EGP 763 million (or Euro 92 million). In conjunction with the acquisition, CIL has entered into a 10-year exclusive Life & Savings distribution agreement with Commercial International Bank (CIB), focusing in particular on Unit-Linked and Protection & Health insurance.