Insurance firms invest $2.3 billion in t-bills: Egypt c.bank

Insurance companies have invested 18.014 billion Egyptian pounds (US$2.3 billion) in treasury bills during September 2015, marking an increase of 7.7 percent, from 16.724 billion pounds a month earlier.

According to the Central Bank of Egypt (CBE)’s monthly report, the public-sector insurance companies have seized 80 percent of the insurance firms’ total t-bills investments, to record 14.448 billion pounds by September-end versus 13.237 billion pounds by August-end.

Meanwhile, the private-sector insurance companies have invested approximately 3.308 billion pounds in treasury bills.  Foreign insurance companies operating in Egypt have recorded total investments of 258 million pounds in treasury bills.

Moreover, the CBE’s report also revealed that the investments made by private insurance funds in treasury bills had dropped 7.9 percent to register 3.875 billion pounds in September 2015, compared to 4.211 billion pounds in August 2015.