Wethaq Egypt wins Tourist Village Agency’s insurance policy

Egypt’s Wethaq Takaful Insurance has won a policy tender launched by the Tourist Villages Development Agency, an affiliate of the state-run New Urban Communities Authority (NUCA), broker Mohamed El-Ghadrify said Monday.

El-Ghadrify further told Amwal Al Ghad that the insurance policy is with total sum insured of 50 million Egyptian pounds (US$6 million).

The policy is one-year renewable term, tailored for providing protection against dangers of fire and incidents of theft to the agency’s machines, equipments, assets, and premises, El-Ghadrify added.

Around 25 percent of the policy’s sum insured is dedicated to cover risks of riots as civil and labour strikes, the broker noted.