Egyptian Takaful Insurance wins policy bid for Orange’s assets: sources

Egyptian Takaful Insurance Co. (Property) won an insurance policy bid to cover Orange Egypt’s assets, facilities, and signal transmission towers, according to sources with knowledge.

The one-year term insurance policy is with total sum insured up to around 22 billion Egyptian pounds ($1.3 billion), the sources in Takaful Insurance further told Amwal Al Ghad on Monday.

“The policy includes coverage of Orange Egypt’s all branches, facilities, and warehouses against the risks of fire, burglary, natural disasters, explosions, and vehicle accidents,” they said.

The insurance policy also includes risks related to terrorist attacks, damages, and dishonesty of trustees that may occur to Orange Egypt, the sources added.