Egyptian Takaful Property earmarks $500k for Egypt nuclear insurance pool

Egyptian Takaful Property and Liability Insurance plans to commit around $500,000 to the capacity subscription of the country’s insurance pool designed to insure anticipated nuclear facilities and projects.

EGYTAK has informed the insurance pools for train accidents, building works dangers and civil liability as well as nuclear facilities about its planned 0.5 percent contribution, managing director Ahmed Morsy told Amwal Al Ghad on Sunday.

The Egyptian nuclear insurance pool is set to insure Egypt’s under construction first nuclear plant in Dabaa, west of Alexandria.

The plant will be built in Dabaa, a site in the north of the country that Egypt has been considering for a nuclear power plant on and off since the 1980s. It is due to be completed in 2022, and the first of its four reactors is expected to begin producing power in 2024.