Egypt’s Mohandes Insurance, Swiss Re renew reinsurance deal for 2021

Egypt’s Mohandes Insurance has renewed a reinsurance contract with Swiss Re Group for another year, chairman and managing director Reda Fathy said on Tuesday.

Under the 2021 contract, the two parties agreed to increase the retention rates and capacity to 33 percent compared to last year, Fathy told Amwal Al Ghad.

Swiss Re is the world’s second-largest reinsurer. Its headquarters is in Zurich, Switzerland.