Delta Renews Four Car Insurance Policies With EGP 7 Mln

Delta Insurance Company has renewed the insurance policies covering the vehicles of four companies from its prominent customers which are Americana Group, ALD Company, Dar for Trading & Contracting and ALD Automotive Group with insurance value of EGP 7 million, said Ibrahim Labib, head of car insurance sector at the Company.

The insurance policies cover the insured vehicles against theft and accidents, while Americana Group asked for an extra coverage which is against riots and unrest.

He added that the impact of the decision taken by the motor insurance committee, stating that the customer shall incur either 25% of the value of compensation or a 50% increase in the charges on stolen cars, will appear by the end of the year, noting that many customers tend to choose the first choice.

Delta Insurance Company has signed insurance agreement to cover the vehicles of Hassan Allam Construction and Daihatsu against theft, accidents and damages. Delta Insurance Company’s supplemental car sector achieved profit of EGP 800,000 in FY 2011/2012.