Germany’s Hannover Re renews reinsurance contracts with Egyptian Mohandes Life

Egypt-based Mohandes Life Insurance Company has renewed reinsurance contracts for 2016 Germany’s Hannover Re, an official from the Egyptian company announced Saturday.

Hannover Re SE, with a gross premium of around €14.4 billion, is the third-largest reinsurance company in the world. Its headquarters is in Hannover, Germany.

Mohamed Abd El-latif Mourad, managing director of Mohandes Life, further told Amwal Al Ghad that his company considers adding a list of reinsurers to deal with in the coming period.

Meanwhile, Mourad said his firm is in talks with the Mohandes Insurance Company – Non-life, seeking to support its financial position and raise its capital in the coming period.

Mohandes Life Insurance aims to increase its capital so as to start implementation of its upcoming expansion plans, he added.