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Allianz Egypt, part of German insurer giant Allianz, has signed on Tuesday an agreement with Egyptian property developer Castle.
The agreement will see Allianz affording insurance systems for Castle Development’s projects. This means that Allianz is liable to cover the outstanding instalments for clients in case death occurs; by default, the unit without any dues becomes an inheritance to client’s family, according to a statement by Castle Developments.
Ahmed Mansour, chief executive of Castle Development, signed the deal with Mohamed Mahran, vice chairman and managing director of Allianz Egypt.
