Tokio Marine Egypt General Takaful plans 56% rise in investments this FY

Insurer Tokio Marine Egypt General Takaful plans to increase its investments in the country by 56 percent in the financial year 2015/16 to 46.8 million Egyptian pounds (5.3 million), its managing director said Monday.

Satoshi Furuya further told Amwal Al Ghad that the group’s investments had surged to 30 million pounds by the end of the financial year 2014/15.

Tokio Marine Egypt General Takaful’s investments are Shariah-compliant, notably in governmental bonds, treasury bills, in addition to deposits in investment accounts with Islamic banks, Furuya added.

Tokio Marine Egypt was established as Nile Takaful in 2008 as a private joint venture arrangement, resulting in the creation of company known as Nile General Takaful.

From 1st October 2013 the new names of the company is Tokio Marine Egypt General Takaful. The company is part of Japan-based Tokio Marine Group.