2 insurers vying to win Cairo Airport’s insurance policy tender

Two insurance majors are competing to win the Cairo Airport’s insurance policy, sources with knowledge told Amwal Al Ghad on Sunday.

Misr Insurance and Iskan Insurance, whose technical offered announced eligible, are rivalling to win the insurance policy launched by the state-run Egyptian Holding Company for Airports and Air Navigation (EHCAAN) to insure its affiliate Cairo Airport Co’s property and assets.

The policy is with a total sum insured of 17 billion Egyptian pounds ($937.7 million), the sources added.

The EHCAAN will announce the winner in the coming few days, the sources added saying they expect Misr Insurance to capture the policy this year.

The policy will include cover for Cairo Airport’s assets and property against damages from fire, and burglary, with total sum insured of 17 billion pounds, the sources said.

It will also involve a political violence cover to be provided for incidents such as sabotage, terrorism, riots, labours’ strikes, revolutions, war, and Coup d’état, with a maximum of $50 million per incident, the sources added.