2009

Investments Claims paid premiums Result_Branches Distribution Technical reserves Balance commission Income General and administratire Revenue&expenses
 

 

IN THE NAME OF GOD THE MOST MERCIFUL

Along with the company positive results for the last years, Suez Canal Insurance continued successfulness for this year, despite of international events which faced the world after the Septemb2008 and gulf war 2009 and its negative results on insurance market,

The company financial results for the financial year 2008/2009 has recorded positive results, premium issued achieved 284 EGP million EGP  against 237 million EGP last year

Total claims paid for 2007/2008  93.23 million EGP against 65.1 million EGP for the previous year, that represents the positive participation in settlement the liabilities towards the policy holders.

According to the successful policy of the company in sustaining and improving technical reserves, the technical reserves for the year ended 2008/2009 reached 206.82  million EGP against  197.64 million EGP for the last year

with increase 91.8 million EGP (4.7%)

About Investing activities we have faced serious difficulties such as liquidity and investment income in circumstances of low interest rates and international slack all over the world-suez canal insurance invest all available money in different investing activities to reach company objectives and improve policy holder rights, as investments in 2008/2009 reached 360 million EGP against 350  million EGP for 2005/2006 with increase 30 million EGP  8.6 % .

And this special accomplishment was crowned with profits for 30 june 2009 reached 26.3 million EGP against 24.5 million EGP for last year with increase 0.864 million EGP (6.1%)

And this couldn't be able to done unless our specialized human resources Which is the base for every development at insurance work, So we give great care for developing technical and administrative skills for our staff as investment not cost to raise the technical, scientific & practical levels by training courses in & outside Egypt.

And thanks to advanced managerial thinking, We succeeded to have our client’s trust . for all this efforts the company kept its success representing the powerful financial position and the trust of the clients in good managing for the portfolio and investments .

-Back