Suez Canal Life Insurance Attains EGP125 mln Premiums Within 8 Months

Ahmed Shoukry, managing director of Suez Canal Life Insurance said his company succeeded to attain its targeted scheme for the current year of 2013/2014, registered EGP125 million premiums at the end of last February.

Shoukry told Amwal Al Ghad Arabic’s Website that Suez Life is walking into achieving its strategic goals to become ranking third among insurance companies which operating in the Egyptian market.

He added that his company attained 25% growth rates of the investment portfolio during the first half of the current fiscal year of 2013/2014, while The growth rate of the company’s technical provisions up 16.9% during the same period, compared to 18% of the direct premiums.

He explained that the company is intending to transit in its new headquarter in Al-Mohandseen-Egypt by the early of the coming month, explaining the company’s expansion scheme within the upcoming phase by inaugurating 5 new branches by the next of June, becoming 15 subsidiaries.

Furthermore he said the company aims in the upcoming period to conclude its first alliance in the Egyptian market to promote its products according to bank insurance mechanism.