Suez Canal Insurance Premiums Hit EGP 146 Mln In Q1

Suez Canal Insurance Company achieved premiums of EGP 146 million in Q1 of FY 2012/2013, compared to EGP 144 million at the end of the corresponding period in the last fiscal year, registering a growth rate of 1.4%, said Ahmed Shehab, general manager of the company.

The company’s benefits reached EGP 36.6 million at the end of last September, compared to EGP 30.8 million in the compared period, registering an increase of 18.8%.

The company’s invested funds reached about EGP 582 million at the end of Q1 of the current fiscal year, compared to EGP 478 million for the corresponding period in the last fiscal year, registering a growth rate of 21.7%.

The return on investment registered EGP 10.5 million at the end of last September, compared to EGP 7.45 million for the same period in the last fiscal year, registering an increase of 40.9%.

The company’s net profit reached about EGP 15.8 million at the end of Q1 of the current fiscal year, compared to EGP 17 million in the compared period, registering a drop of 7.6%.

It is worth mentioning that Suez Canal Insurance Company targets to achieve premiums of EGP 460 million in the current fiscal year.