Egyptian Takaful Insurance ‘Property’ to Hit EGP432mn Investments by June 2015

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Egyptian Takaful Insurance Company (Property) aims boosting its investment portfolio to EGP432million by the end of the current year of 2014/2015, El-Sayed Bayoumi – head of investment department revealed.

In a statements to Amwal Al Ghad, Bayoumi added that his company intends attaining investment returns  up to EGP60.5million by June 2015.

He emphasized that Takaful Insurance achieved EGP367million investments in the last year registering EGP50million returns.

Takaful Insurance plans entering in long-term investments as shareholders through considering the projects in which the Egyptian banks are intending to launch during the current fiscal year 2014/2015, he explained.

Moreover, Bayoumi expected that treasury bills and bonds will be activated in the next period and this will contribute in changing the investment portfolio structure in many firms, stressing that Egyptian Takaful property invests around 94% of its portfolio in Egyptian Exchange.