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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.