AMIG Launches Burglary Insurance Policy Covering South Cairo Electricity Co.

Arab Misr Insurance Group (AMIG) has launched the burglary insurance policy covering the South Cairo Electricity Generation Company for a year, said Walid Sayed, deputy general manager of fire insurance sector at AMIG.

The insurance policy covers the company’s stocks, equipments, spare parts and electric cables against risks of fire and armed robbery with an insurance value of EGP 400 million.

AMIG has recently insured the South Cairo Electricity Generation Company against risks of fire, accidents, money transport and additional risks with an insurance value of EGP one million.

It is worth mentioning that A.M. Best Europe – Rating Services Limited has assigned a financial strength rating of B++ and issuer credit rating of “bbb” to Arab Misr Insurance Group S.A.E (AMIG). The outlook for both ratings is stable. Such ratings are considered the highest ones for an insurance company in the region that is witnessing political turmoil in the current period.