EFSA ratifies $255mn-investments for Private Insurance Funds

Egyptian Financial Supervisory Authority (EFSA) has endorsed investments worth EGP2 billion (US$ 255.3 million) for private insurance funds within the first five months of 2015.

In its monthly report, EFSA announced that the ratified investments have decreased by 19% compared to 2.48 billion Egyptian pounds within the first five months of 2014.

EFSA stated that those investments are represented in investment certificates group A, B of National Bank of Egypt (NBE), deposits, investment funds’ policies, treasury bills and governmental bonds.

Moreover, EFSA has noted that it has removed three insurance funds within the first five months of 2015.