EFSA: EGP1.4bln total Investments of Insurance Funds at March-End

Big 5

A report issued by Egyptian Financial Supervisory Authority (EFSA) revealed that technical inspection departments of insurance funds approved to inject EGP1.4billion investments at March-end against EGP1.87billion in the previous year, with 25% decline rate.

EFSA explained that these investments represent Deposit, Document funds, Treasury bills and bonds according to Article14 of the executive regulation of Act54 of 1975.

The Collective premiums of insurance sector reached around EGP253million for personal insurances and EGP534billion for properties insurances compared to EGP150million and EGP399million in the previous year, Sherif Samy, EFSA’s Chairman Said

The numbers of insurance brokers are 6926 at the end of last March compared to 6701 at March 2013.