Business insurance · Egypt · Head-to-head
GIG Egypt (Gulf Insurance Group Egypt) vs Suez Canal Insurance (SCI)
Two Egypt business insurance options, compared side by side for Egypt trades.
Which should you choose?
GIG Egypt (Gulf Insurance Group Egypt) and Suez Canal Insurance (SCI) are both Tier A, which every business insurance entry without a reputation warning receives, so the tier does not separate them. Weigh the pros, cons, pricing and Egypt-specific notes below against your trade and region.
GIG Egypt (Gulf Insurance Group Egypt)
Tier A · ListedGulf Insurance Group's Egyptian non-life insurer, with engineering and liability covers
GIG Egypt says it began insuring in July 1994 and is 99% owned by Gulf Insurance Group, a Kuwait-listed insurer in which Canada's Fairfax Financial raised its stake after KIPCO's exit in December 2023, according to news reports. Atlas Magazine reported in April 2023 that GIG acquired AIG Egypt. GIG Egypt holds FRA licence No. 9 of 1994, states issued capital of EGP 1 billion, and lists CAR, EAR, contractors' plant and machinery and electronic equipment cover.
Pros
- + Engineering covers: CAR, EAR, contractors' plant and machinery, machinery, electronic equipment
- + Online engineering quote form and 19792 hotline
- + Professional indemnity for architects and engineers, plus public liability
- + 99% owned by Gulf Insurance Group
Cons
- − No published rates
- − No decennial liability listed on its product pages
- − Engineering page gives cover names, not limits or exclusions
Egypt note
GIG Egypt takes engineering quote requests online and lists professional indemnity for architects and engineers and public liability alongside CAR and EAR. Decennial liability is not listed on its product pages, so ask if your contract requires it.
Suez Canal Insurance (SCI)
Tier A · ListedEgyptian insurer founded in 1979 under Arab Contractors and the Suez Canal Authority
Suez Canal Insurance says it was founded in October 1979 as Egypt's first private-sector insurer, under the umbrella of Arab Contractors and the Suez Canal Authority. It holds FRA licence No. 5 of 1979, says it has 29 branches across all governorates, and lists engineering, fire, marine, motor, medical and accident cover.
Pros
- + Engineering covers: CAR, EAR, civil works, contractors' plant, machinery breakdown, electronic equipment
- + 29 branches across all governorates (company figure)
- + Founded in 1979 with Arab Contractors and the Suez Canal Authority
- + Online enquiry form for each product
Cons
- − No published rates
- − No decennial liability listed on its engineering page
- − Current shareholders not stated on its site
Egypt note
SCI's engineering page lists contractors' all risks, erection all risks, civil works cover, contractors' plant, machinery breakdown and electronic equipment, with an online enquiry form. Its links to Arab Contractors and the Suez Canal Authority date from its 1979 founding; the site does not state who owns it today.
More Egypt options
See all Egypt business insurance vendors and the rest of the Egypt directory.