Egypt’s Suez Canal Life Insurance FY2019 premiums rise 45.18%

Egyptian Suez Canal Life Insurance says it has posted a 45.18 percent year-on-year growth in premiums, recording 178.94 million Egyptian pounds ($11 million) during the financial year 2018/2019.

“Our profits after taxes increased 41.95 million pounds during the last financial year 2018/2019 from 22.51 million pounds during the financial year 2017/2018,” chief executive Said Gabr said on Monday.

The company has generated surplus from insurance activity worth 63.9 million pounds, compared with 33.3 million pounds during the financial year 2017/2018, marking an increase of 19.44 million pounds, Gabr added.