amwalalghad :: AMIG Insures South Cairo Electricity Co. With Value Of EGP 1 Mln

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AMIG Insures South Cairo Electricity Co. With Value Of EGP 1 Mln


Published Wednesday, 01 August 2012 11:31 | Written by Sherine Taha and Islam Abd ElHameed

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Arab Misr Insurance Group (AMIG) signed an insurance contract with South Cairo Electricity Generation Company with insurance value of EGP one million, said Walid Sayed, deputy general manager of fire insurance sector at AMIG.

The policy will insure the company’s stocks and buildings all over Egypt against risks of fire, accidents, money transport and extra risks. AMIG will issue a new insurance policy that insures electric cables and spare parts against burglary in the next few days, Sayed added.

AMIG had submitted its technical bid to the technical committees of the Electricity Generation Company to choose the most suitable offer.

It is worth mentioning that A.M. Best Europe – Rating Services Limited has assigned a financial strength rating of B++ and issuer credit rating of “bbb” to Arab Misr Insurance Group S.A.E (AMIG). The outlook for both ratings is stable. Such ratings are considered the highest ones for an insurance company in the region that is witnessing political turmoil in the current period.

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