Misr Insurance wins Egyptian Nitrogen Products’ $1.1 bln policy bid

Egypt’s Misr Insurance Company has won an insurance policy bid for the assets of the Egyptian Nitrogen Products Company (ENPC), an official told Amwal Al Ghad on Sunday.

Misr Insurance’s division manager, Hossam Hefnawy further said the insurance policy is with total sum insured of $1.1 billion.

Egyptian Nitrogen Products Company (ENPC) is an affiliate of the state-run Egyptian Petrochemicals Holding Company (ECHEM).

The policy is a one-year renewable term, involving an insurance coverage of all the risks arising out of all types of fire, burglary, lightening, explosions, self-ignition, machine breakdown, losses, and vehicle crash, he added.