CIB Egypt launches $511 million insurance policy tender

Commercial International Bank (CIB), Egypt’s largest private sector bank, has launched a call for tenders on a insurance policy tailored its assets and properties including premises and cars.

CIB’s insurance policy is with total sum insured of approximately 4 billion Egyptian pounds (US$511 million).

The policy involves an insurance coverage of dangers arising out of fire, burglary, other risks, and political violence, as well as of civil liability, senior insurance sources told Amwal Al Ghad Wednesday.

Moreover, the sources said the CIB’s policy is also to cover the risks of cash transfer, burglary, and dishonesty alongside to provide a banking document and land transport coverage.