Suez Canal Insurance: Hannover Re’s Reinsurance Treaty Renewed

Egypt’s Suez Canal Insurance Company (SCI) has renewed its agreement with German reinsurance company Hannover Re for the year of 2015, managing director Mohamed Abdallah announced.

Hannover Re, with a gross premium of around €14.0 billion, is the third-largest reinsurance company in the world. Its headquarters are in Hannover, Germany.

Speaking to Amwal Al Ghad on Monday, Abdallah said his company had managed to keep the same limits of retention while renewing the Hannover Re’s treaty backed by SCI’s high growth rates of premiums.