Egypt’s SCI achieves EGP170.5 mln premiums in 6m

Egypt’s Suez Canal Insurance (SCI) company achieved premiums of marine hull insurance worth 170 million Egyptian pounds during the current fiscal year 2023/2024, said its director of hull insurance sector Ayman Nasif on Sunday.

The company’s portfolio of marine hull insurance premium payments has exceeded the target of 150 million pounds in the first half of the current fiscal year, Nasif told Amwal Al Ghad Arabic in an exclusive interview.

SCI aims to increase its premium portfolio to 1.6 billion pounds by the end of the current fiscal year 2023/2024, compared to 1.375 billion pounds during the previous fiscal year.

Suez Canal Company is one of only two companies in Egypt that have been awarded a credit rating from rating agency AM Best. The ratings reflect SCI’s balance sheet strength.