GIG-Egypt wins policy bid for Petrojet’s assets – sources

Egypt’s Arab Misr Insurance Group- GIG has won an insurance policy tender to cover the assets of the state-owned oil firm Petrojet, announced official sources on Monday.

At a total sum insured of 3.5 billion Egyptian pounds ($216.3 million), the one-year term policy will cover Petrojet’s assets and properties against damages related to fire and burglary as well as additional risks, the sources told Amwal Al Ghad.

“GIG has succeeded in covering Petrojet’s assets for the fifth year in a row after a competition with some non-life insurance companies,” they said.