Royal Insures Italian Cement Company With €3.4 Mln

Royal Insurance Company signed an insurance contract to insure an Italian cement company for a year, said Hassan Darwish, managing director of the company.

The insurance premium of the policy reaches to €3 million (=EGP 30 million), in addition to €400,000 (=EGP 3.6 million) allocated for civil liability insurance coverage.

The insurance policy covers all risks of fire, burglary, breach of trust, money transport and internal transport as well as engineering insurance and third-party civil liability insurance.

Royal Insurance Company targets to achieve non-life insurance premiums of EGP 33 million and engineering insurance premiums of EGP 8.5 million in FY 2012/2013.