Suez Canal Insurance, Hannover Re renew reinsurance deal for 2020

Egypt’s Suez Canal Insurance has renewed a reinsurance contract with German reinsurer Hannover Re for another year.

Under the 2020 contract, the two parties keep the same favourable retention rates.

Hannover Re, the world’s third-largest reinsurer, has renewed the contract given the Egyptian insurer’s good business profile and profitability during the financial year 2018/2019.