GIG wins Egyptian Iron and Steel’s insurance policy tender

Arab Misr Insurance Group – GIG has won a tender to provide insurance cover for one of Egypt’s largest public firms, Egyptian Iron and Steel (HADISOLB), sources with knowledge told Amwal Al Ghad on Saturday.

HADISOLB’s policy is a one-year term, with total sum insured of around 25 billion Egyptian pounds ($1.4 billion), the sources said.

The policy will insure HADISOLB’s assets, properties, and premises against damages from fire, burglary, and explosion.

It will also cover damages from earthquakes, storms, volcanoes, and explosion of water pipelines, the sources added.