Suez Canal Life Insurance Eyes EGP155 mln Premiums By June 2014

Suez Canal Life Insurance is aiming to attain EGP155 million premiums within the current fiscal year of 2013/2014, said Ahmed Shoukry, managing director of the company.

Shoukry has informed Amwal Al Ghad in an exclusive that Suez Life succeeded to achieve EGP125 million premiums at the end of June 2013, registering 38.9% growth rate.

He explained that these results are considered to be a promising sign for the success of the company in order to overcome all the economic and political obstacles, expecting that the sector will witness highly growth during the coming period.

He added that the company set strategic plan for the next phase depending on developing the agreements conditions of reinsurance, along with holding training courses for producers and staff of the company to develop its technical performance.

He further noted that the company is planning to boost its producers by 300 within the end of this year, noting that is decides to establish insurance brokers that will spread the various products of the company.