GIG-Egypt wins Petrojet $207 mln assets insurance contract

Egypt’s Arab Misr Insurance Group – GIG has won a 3.7 billion Egyptian pound ($207.1 million) tender to provide insurance services for Petrojet Company’s assets, sources with knowledge told Amwal Al Ghad on Thursday.

This will be the second year in a row for GIG to win Petrojet’s tender.

Three insurers were bidding to win the insurance coverage contract for the Egyptian petroleum company’s assets for one year, including GIG, Misr Insurance, and Suez Canal Insurance.

The insurance policy tender includes providing coverage for Petrojet’s assets and property, including equipment in Egypt and outside, against damages or loss due to fire and burglary, the sources said. It also provides a liability and personal accidents coverage for the employees.