Suez Canal Insurance achieves 19 million EGP net profit in 9 months

 Suez Canal Insurance achieves 19 million EGP net profit before taxes deduction, compared to 14 million EGP during 2016/2017 at the first 9 months of the final financial year at a growth rate 35.7% over the previous year

Ahmed Shehab, General Manager of the company revealed to "Amwal ElGhad" about the company success in achieving 14 million EGP surplus insurance activity since the start of the financial year 2016/2017 till last March, Compared to 17 million EGP during the corresponding period of the previous year with a rate of 17.6%

The reason behind the decreased amount of surplus insurance activity is the increasing amount of loss for some insurance branches especially Marine Insurance, Fire Insurance, Medical Insurance and Motors Insurance in both sectors Compulsory and Vehicle, pointing out that the insurance sector suffers losses of these branches

A draw to high investment portfolio in Suez Canal Insurance reaches 686 million EGP at March 2017, Compared to 667 million EGP at the end of March 2016, with a growth rate of 2.8%, achieving 50.45 Million EGP investments during the first 9 months of 2016/2017 financial year, compared to 41.7 during the corresponding period of the previous year with a growth rate of 21%