Suez Canal Insurance Achieves EGP35.8mn Net Profits at June-2014

Suez Canal Insurance Company attained EGP35.828 million net profits at the end of the last fiscal year 2013/2014 compared to EGP29.129 million in the previous fiscal year, registering 22.9% growth rate, Ahmed Shehab , General manager revealed.

In statements to Amwal Al Ghad, Shehab explained that the total value of premiums are EGP408 million in the last FY against EGP361 million attained premiums in June 2013, with 13% growth rate.

The total value of paid up compensations for customers up to EGP136 million at June-end in compared to EGP218 million during the last fiscal year, with 37.6% decline, stressing that compensations under settlements are EGP60.531 million at June 2014.

Suez Canal’s investments decreased to EGP586 million at June 2014 against EGP611 million at June 2013, retreating with 4%, while the company’s assets reached EGP890 million at June 2014.

Moreover, shareholders’ rights registered EGP170.4 million at June 2014 in compared to EGP165 million at June 2013, while the technical allocations are EGP260 million at the same period of this year against EGP234 million at 2013.