GIG-Egypt wins Petrojet’s insurance policy tender

Arab Misr Insurance Group – GIG has won for the second time in a row a tender to provide property insurance cover for Egypt’s oil and gas services provider Petrojet.

Petrojet’s policy is a one-year term, with total sum insured of 3.5 billion Egyptian pounds ($194.4 million) designated to insure the company’s assets, sources with knowledge told Amwal Al Ghad on Wednesday.

The policy will insure Petrojet’s assets and properties against damages from fire and burglary. It will also cover liability to employees’ personal accidents as well as breakdown of equipment located nationwide and worldwide, the sources added.