Misr Insurance wins Alex-based petrochemical firm’s $383mn policy bid

The leading insurer in MENA region, Misr Insurance Company has won a policy bid to insure the assets, premises, factories, and facilities of one of the petrochemicals firms in Alexandria.

The policy is a one-year renewable term and with total sum insured of up to 3 billion Egyptian pounds (US$383.1 million), Amwal Al Ghad has quoted Essam Mansour – Misr Insurance’s representative in Alexandria – as saying Wednesday.

Mansour further said that the policy involves an insurance coverage of dangers arising out of fire, burglary, dishonesty, and other additional risks.

Moreover, the policy is to insure against all the dangers of political violence on the firm’s assets and facilities, with a coverage rate of 25 percent out of the total sum insured, the official added.