Suez Canal Insurance Posts EGP305mln Premiums in 9 Months

Suez Canal Insurance Company succeeded in attaining EGP305million premiums in the first 9 months of the ongoing fiscal year against EGP287million in the previous year, move up by 6.2% growth rate, Ahmed Shehab, General Manager said.

Speaking to Amwal Al Ghad Arabic’s Website, Shehab explained that the paid up compensation of the company reached around EGP98million at the end of March, against EGP183million in the previous year, decline with 46.4%.

Suez Canal achieved EGP24.8million profits , in compared to the previous fiscal year with 15.8% growth rate, Shehab added.

The total value of the funds which have been invested reached around EGP573million at the end of last March, registering EGP33.1million return.

Around the Company’s strategic plan, Shehab noted that his company started negotiating with two banks in order to promote its various products through the branches and according to banking insurance mechanism, expecting concluding the cooperation agreements by the coming few days.