Suez Canal Insurance Eyes Boosting Its Premiums to EGP1bln Within 5 Years

Mr. Mohamed Abdullah, Deputy Chairman and Managing Director of Suez Canal Insurance Company said his company set strategy for the upcoming five years, targeting boosting the premiums’ volume to EGP1 billion.

Abdullah told that Suez Canal is planning within the next period to develop its marketing mechanism and productive device through following new marketing tunnels along with offering creative products in the Egyptian market.

He added that his company is currently considering marketing its various products via the banks’ branches through banking insurance, as the company started negotiating with two banks to conclude Cooperation agreement in the coming phase.

Furthermore, he said his company is planning to offer insurance coverage for the tourism buses against terrorism risks, so that the first document becomes in the Egyptian market, noting that the company is still negotiating with the reinsurers on these coverage.