Insurance companies’ investments in Egypt’s T-bills fall 1% April-end

The total investments of insurance companies operating in the Egyptian government’s treasury bills fell one percent year-on-year at the end of last April, according to a report.

Investments dropped to around 31.759 billion Egyptian pounds ($2 billion) from 32.109 billion pounds at the end of March, the Central Bank of Egypt’s (CBE) monthly report showed on Monday.

“The investments of public-sector insurance companies in treasury bills recorded 25.540 billion pounds at the end of last April, down from 26.3 billion pounds at the end of Mach 2020,” the report said.

Private-sector insurance companies have invested about 5.446 billion pounds in treasury bills at the end of April, up from 5.5 billion pounds at the end of March.

“Foreign insurance companies operating in the Egyptian market recorded total investments worth 773 million pounds in treasury bills, up from 683 million pounds at the end of March 2020,” the report showed.