The Egyptian Natural Gas Company (GASCO) awarded its insurance-policy tender to Misr Insurance for the third-consecutive year, Amwal AL Ghad reports.
The two-year insurance policy insures up to EGP 50 billion of the company’s assets. The policy covers the company’s factories, gas networks, and other assets against damages from fire, theft, burglary, and engineering risks.
The insurance will also protect the company against sabotage, strikes, riots, and other forms of civil unrest or political violence.
Eight insurers, according to Amwal Al Ghad, competed for the tender. They included the Arab Misr Insurance Group (GIG), Suez Canal Insurance, Misr Insurance Company, the Egyptian Takaful Property and Liability Insurance (EGTAK), Orient Takaful Insurance, Mohandes Insurance, Iskan Insurance Company, and Royal Insurance.