Alexandria tram operator launches $33.8 million insurance policy tender

The state-run Alexandria Passenger Authority (APTA) has launched a call for tenders on a new insurance policy tailored for the company’s assets and premises, sources with knowledge told Amwal Al Ghad Tuesday.

The insurance policy is one-year renewable term, with total sum insured of around 300 million Egyptian pounds (US$33.8 million), the sources added.

The Egyptian tram operator’s  policy will involve insurance coverage for the APTA’s assets and affiliated properties against all dangers of fire, burglary, and others.

The sources also referred to a fierce competition among three insurance firms working in the Egyptian market, namely Misr Insurance Company, Arab Misr Insurance Group (GIG), and Egyptian Takaful Property and Liability Insurance (EGTAK), seeking to win the policy bid.