Egyptian Takaful Insurance wins policy bid for Madinet Nasr Housing-led project

Egyptian Takaful Insurance Co. (Property) has won an insurance policy tender to cover a residential flagship, owned by the state-run Madinet Nasr for Housing and Development, sources with knowledge said on Monday.

The insurance policy is with a total sum insured up to around 330 million Egyptian pounds ($19.9 million), the sources told Amwal Al Ghad.

“The policy includes coverage of all contractors’ risks that may occur during the period of executing the project as well as civil liability and other damages related to losses,” the sources said.