Egypt’s Delta Life Insurance has won an insurance policy for the employees of Advance Energy Systems (ADES Group), chief sales & marketing officer Mohamed Mowafi announced Sunday.
Speaking to Amwal Al Ghad on Sunday, Mowafi stated that the insurance policy is with total sum insured worth 326 million Egyptian pounds (US$42.7 million).
Upon the policy, Delta Life shall provide insure 706 employees at ADES Group, Mowafi noted, adding that the total annual premiums for the policy are estimated at 800.000 pounds.
Moreover, the policy is based on providing life insurance coverage for ADES employees, to include natural death, total permanent disability (TPD), and permanent partial disability (PPD) in addition to risks of individual accidents.
ADES Group is a Middle Eastern conglomerate headquartered in Egypt. ADES has consolidated all upstream services & projects – both onshore and offshore – in the oil & gas sector into one group. The Group is considered the second largest operator in Egypt and it is proud of its 1000 – plus – strong qualified employee base and aims to stimulate the regional economy by continuing to recruit and reward qualified team-members.