Misr Insurance Company (Non-life) has renewed the insurance policies covering the maritime fleets of the National Navigation Company and Petroleum Marine Services Company, said Hossam Olama, general manager of marine insurance sector at the company.
He told Amwal Al Ghad that each fleet will be insured with value of US$ 500 million against all risks.
The Misr Insurance Company’s marine insurance sector has grown by 110% in the third quarter of FY 2012/2013 as compared to the corresponding period in the last fiscal year, he added. The company’s premiums also witnessed a year-over-year increase of 20% in the third quarter of the current fiscal year.
It is worth mentioning that Misr Insurance Company (Non-life) achieved written premiums of EGP 1.97 billion in the second quarter of FY 2012/2013, compared to EGP 1.8 billion in the second quarter of the last fiscal year, registering a growth rate of 9.4%.
