Egypt’s Orient Takaful wins South Valley Cement’s insurance policy bid

Egypt’s Orient Takaful Insurance Company has won a tender to provide insurance coverage for South Valley Cement’s plant, the insurer’s first executive vice president and head of technical affairs announced Tuesday.

The South Valley Cement’s policy is with total sum insured of 2 billion Egyptian pounds ($103.6 million), Walid Sayed Mustafa further told Amwal Al Ghad.

The policy will cover civil liability, cash transfer, and the damages from fire, burglary, floods, earthquakes, volcanos, torrents, and dishonesty, Mustafa added.

Orient Takaful has recently won several insurance policies for Nile City Towers, Fairmont Nile City Hotel, and Lafarge Cement Egypt’s plants.