AXA Cooperative Insurance, a Saudi joint stock company, has selected Wasilah Insurance Agency as its business partner in the Kingdom of Saudi Arabia.
Under this contract, newly licensed agent Wasilah will exclusively market, distribute and sell insurance products offered by AXA Cooperative Insurance in the Kingdom.
In order to meet client demand for international expertise, AXA’s products will cover mainly retail products and also cater to the SME sector.
The new lines of business will operate motor; property; marine; medical insurance; general accident as well as other insurance instruments.
Wasilah’s insurance services will cover the Kingdom of Saudi Arabia through its main branch in Riyadh and around 10 point of sales due to be opened in the next 3 years in the three main cities of the Kingdom.
The head office in Riyadh will be responsible for supporting all branches around the Kingdom in addition to its overall operations.
AXA Cooperative director Jerome Droesch said this partnership shows that AXA will continue to invest in the region and their focus will be to seize the huge potential this market has to offer.
AXA Cooperative managing director Paul Adamson said the culmination of this agreement brings us closer to their overall commitment of expanding within the Middle East.
"Our customers will now be able to access us quicker and more easily. We have already seen encouraging signs from our partners and clients ever since we received our license," Adamson said.