Misr Insurance pays $1 million compensation for Egyptian Navigation Company

The leading insurer in MENA region, Misr Insurance Company has paid the state-run Egyptian Navigation Company (ENC) $1 million in compensation, said the insurer’s representative in Alexandria.

The compensation comes after one of ENC’s ships in Alexandria had drowned, Essam Mansour, Misr Insurance’s representative in the city, told Amwal Al Ghad Tuesday.

With total sum insured of 100 million Egyptian pounds ($11.26 million), Misr Insurance has renewed an insurance policy to insure ENC’s vessels against all dangers of wars, drowning, loss, and civil liability, Mansour added.