Egypt market regulator Oks Q1 private insurance funds’ investments at $178mn

The Egyptian Financial Supervisory Authority (EFSA) approved on Tuesday investments of 3 billion Egyptian pounds ($178.7 million) in favour of private insurance funds during the first quarter of the year.

Earlier, the investments stood at 2.8 billion pounds during the first quarter of 2018.

“The private insurance funds’ investments marked a 7.2 percent increase or around 200 million pounds during the first quarter of the current year,” EFSA said in its monthly report.

These investments represent the saving certificates of the National Bank of Egypt A and B, besides its banking deposits and investment policies, in addition to public debt instruments, including treasury bills and bonds, the report showed.