Misr Insurance Covers Supply Company’s Project In Iraq With US$ 1 Bln

Misr Insurance Company has signed a contract to insure a project of an Egyptian supply company in Iraq with US$ one billion, said Ahmed Bendary, supervisor and head of the insurance company’s branch in El Sayeda Zeinab. 

The insurance policy will cover all the company’s electrical equipments, cables and converters during the period of the project against all risks, he added.

Misr Insurance Company has 60% market share among all insurance companies in Egypt. The company acquires 95% market share of petroleum insurance sector, 95% of engineering insurance sector, 70% of enterprise insurance, 50% of fire insurance and 70% of motor insurance.

It is worth mentioning that Misr Insurance Company (non-life) succeeded in achieving premiums of EGP 2.688 billion as of the end of last March, compared to EGP 2.547 billion at the end of March 2012, registering a growth rate of 5.6% and a target percentage of 105.3%.