Mohandes Insurance Company vs Suez Canal Insurance (SCI)

EGX-listed Egyptian insurer with a full engineering line, from contractors' all risk to decennial liability

Mohandes Insurance Company is an Egyptian joint-stock insurer licensed in 1980 (licence No. 6) and listed on the Egyptian Exchange under the ticker MOIN. Its website names the Engineers' Syndicate pension fund as its largest shareholder (33.2%) and gives a paid-up capital of EGP 650 million. In February 2025 AM Best described it as a non-life insurer operating only in Egypt with about 3% of the market by gross written premiums.

Pros

• + Engineering line covers contractors' all risk, erection all risk, contractors' plant and machinery, machinery breakdown and electronic equipment
• + Offers professional indemnity for engineers and decennial liability cover
• + Listed on the Egyptian Exchange, so its financial statements are public
• + Branches across Egypt, including Alexandria, Port Said, Suez, Mansoura and Assiut, plus the 19318 hotline

Cons

• − No published premiums; every policy is quoted
• − AM Best noted a high reliance on reinsurance and a net book concentrated in motor

Egyptian insurer founded in 1979 under Arab Contractors and the Suez Canal Authority

Suez Canal Insurance says it was founded in October 1979 as Egypt's first private-sector insurer, under the umbrella of Arab Contractors and the Suez Canal Authority. It holds FRA licence No. 5 of 1979, says it has 29 branches across all governorates, and lists engineering, fire, marine, motor, medical and accident cover.

Pros

• + Engineering covers: CAR, EAR, civil works, contractors' plant, machinery breakdown, electronic equipment
• + 29 branches across all governorates (company figure)
• + Founded in 1979 with Arab Contractors and the Suez Canal Authority
• + Online enquiry form for each product

Cons

• − No published rates
• − No decennial liability listed on its engineering page
• − Current shareholders not stated on its site