Suez Canal Insurance Eyes EGP450mn Premiums in FY14/15

Suez Canal Insurance Company eyes attaining EGP450 million premiums within the new current fiscal year of 2014/2015 Ahmed Shehab, general manager of the Company revealed.

The company succeeded in attaining EGP405 million premiums during the last year of 2013/2014 against EGP360 million in the previous year , move up by 12.5% growth rate, Shehab spoke to Amwal Al Ghad.

Suez Canal Insurance succeeded in achieving the highest growth rate since the company’s inception in 1979, stressing that the improvement of political and economic situations helped to achieve growth rates, Shehab noted.

Over the company’s future strategy, Shehab explained that Suez Canal started negotiations with two banks in order to promote its various products through the company’s branches.

Moreover, Suez Canal has branches across republic but it is considering to expand geographically when the situations will be stabled.