Suez Canal Life Insurance targets to set up an institute to train its staff in the production and marketing departments. Ahmed Shoukry, managing director of the Company, said the institute will be established within the next two years, as part of the Company's strategic plan to develop its production and marketing departments. The Company plans to train two people at least in the insurance department at Faculty of Commerce every year so as to improve its marketing system. The obstacles facing the production department have to be solved as the department the Company's firepower together with the administrative system, Shoukry added. The Company's marketing system also faces problems because of the small number of the staff, he added, affirming that the Company aims at recruiting new youth staff. It is worth mentioning that Suez Canal Insurance received the regulator's license at the beginning of July for offering life insurance services. The ownership structure of Suez Canal Life Insurance is divided as such: Suez Canal Property Insurance (80%), Green Valley for Investment which is owned by the Arab Contractors Employees Insurance Fund (10%) and Insurance fund for Suez Canal Authority Employees (10%).
