Suez Canal Insurance Eyes New Credit Rating early 2015

Big 5

Egypt’s Suez Canal Insurance Company (SCI) is targeting a new credit rating from one of the renewed global rating agency by early 2015, said managing director Mohamed Abdallah.

In a recent interview with Amwal Al Ghad, Abdallah said SCI had not obtained any credit ratings since late 2010, due to economic and political aftermath of 2011 uprising and violent events in the last three years.

Getting a new credit rating will positively trigger SCI to renew its reinsurance agreements and accordingly to allure more fresh clients, including major companies and factories willing to receive insurance cover service, he noted.