Egypt Investment Ministry Offers Insurers EGP500mn Insurance Policy Tender

The insurance companies operating in the Egyptian market are currently facing off to win an insurance policy in favour of Egypt’s Ministry of Investment, said sources with knowledge of the ongoing competition.

Speaking to Amwal Al Ghad on Monday, the sources pointed out that the insurance policy is worth 500 million Egyptian pounds (around US$70 million), designated for the ministry’s assets and affiliated premises.

Furthermore, the source stated that the policy is a one-year renewable term and is set to provide insurance coverage to the Ministry’s assets and premises against all risks of fire, burglary, dishonesty, and cash transfer.

The ministry has excluded the insurance brokerage firms from applying for the insurance policy tender, they noted.