Assiut University launches Insurance Policy worth EGP3 billion

Insurers in Egypt are competing to win an insurance policy tender for Assiut University’s assets and affiliated premises.

The policy includes the policy is set to provide insurance coverage to Assiut University’s assets and premises against risks of fire, burglary, dishonesty, and cash transfer, sources with knowledge of the matter told Amwal Al Ghad on Tuesday.

The sources further told Amwal Al Ghad that the insurance policy at total value of 3 billion Egyptian pounds (around US$393.4 million).

The list of insurers seeking to win the policy includes notably, Misr Insurance Company and Suez Canal Insurance Company, the sources revealed.

This is the first insurance policy of its kind made for a public university in Egypt, the sources said, recommending the rest of the country’s state-owned university to take a similar step to ensure protection insurance for their facilities.

Assiut University was established in October 1957 as the first university in Upper Egypt.