Egyptian Takaful Non-Life’s Return On Investment Expected To Reach EGP 26.4 Mln End-March

The Egyptian Takaful Company (Non-Life) is expected to achieve return on investment of EGP 26.4 by the end of next March, said El-Sayed Bayoumi, head of investment department at the company.

The company succeeded in achieving 90% of the target return on investments which is EGP 29 million for the current fiscal year, he added.

The return on investment reached about EGP 17.7 million at the end of Q2 of FY 2012/2013, fulfilling 61% of the target for the current fiscal year.

Bayoumi noted that it has become difficult to determine the best investment channels amid the political and economic changes in Egypt. Insurance companies have to diversify their investment channels according the nature of the Egyptian market, he affirmed.

It is worth noting that the Egyptian Takaful Company (Non-Life) targets to increase its investments in securities by EGP 3 million to reach EGP 10 million in the current fiscal year.