Egypt’s Delta negotiating renewal of reinsurance contract with PartnerRe

Egypt’s Delta Insurance is in talks with Bermuda-based reinsurer PartnerRe to renew a reinsurance agreement for one further year, chairman Adel Moussa said on Wednesday.

Moussa called the talks with PartnerRe “very positive” and will lead to a renewal agreement at favourable terms and prices similar to 2019’s.

“We expect to reach a definitive agreement in the few coming days,” Moussa told Amwal Al Ghad.

Delta’s good business profile and profitability will back the renewal decision while keeping suitable retention rates, he said.