Misr Insurance wins Suez Steel’s $1.4 billion policy bid

Big 5

The leading insurer in MENA region, Misr Insurance Company has won a policy bid to insure Suez Steel Company (SSC)’s properties and assets.

The policy is a one-year renewable term, with a total sum insured up to 11 billion Egyptian pounds (US$1.4 billion), Misr Insurance’s division manager, Hossam Hefnawy told Amwal Al Ghad by phone Saturday.

Hefnawy further said the policy involves an insurance coverage of all dangers arising out of fire, burglary, and other risks such as explosions, machinery breakdown, losses, earthquakes, storms, and volcanoes.