Misr Insurance wins Ethylene producer Ethydco’s $1.9 billion policy bid

The leading insurer in MENA region, Misr Insurance Company has won a policy bid for Egyptian Ethylene and Derivatives Company (Ethydco), its board member Mohamed Khalifa announced Sunday.

Khalifa further told Amwal Al Ghad that the Ethydco policy is with total sum insured of up to US$ 1.9 billion equivalent to 14.82 billion Egyptian pounds, dedicated to insure the company’s assets, properties, and machineries.

The policy involves an insurance coverage of dangers arising out of fire, burglary, dishonesty, cash transfer, and machines’ breakdown in addition to riots, civil disorder, and labours’ strikes.