Egyptian Takaful Insures Porto Marina Hotel With EGP 100 Mln
The Egyptian Takaful Company (Non-Life) signed an insurance contract to insure Amer Group’s Porto Marina Hotel with insurance value of EGP 100 million.
Ahmed Arfin, Managing Director of the Company, said the insurance policy covers the Hotel against all risks including fire, burglary, breach of trust, riots, unrest and natural disasters.
The Porto Marina is located over 620,000 m2 and includes 9200 units. The investment value of the second phase of the project is about EGP 200 million.
The Egyptian Takaful Company (Non-Life) targets to achieve premiums ranging from EGP 200 million to EGP 250 million in FY 2012/2013.
