Suez Canal Insurance renews reinsurance deal with Germany’s Hannover Re

Egyptian composite insurer Suez Canal Insurance has renewed reinsurance agreement for 2017 with Germany’s Hannover Re, its general manager Ahmed Shehab said Monday.

Shehab further told Amwal Al Ghad that the Germen reinsurer has renewed contracts without adding any further terms and conditions but keeping the same rates of retention and capacity for Suez Canal Insurance.

Hannover Re SE, with a gross premium of around €17.1 billion, is the third-largest reinsurance company in the world. Its headquarters is in Hannover, Germany.