Insurance companies achieve net investments of 86 bln pounds in 2017: Omran

The net investments of the insurance companies registered 86 billion Egyptian pounds ($4.8 billion) by the end of June 2017, Chairman of the Egyptian Financial Supervisory Authority (EFSA) Mohamed Omran said.

During an annual conference to showcase the authority achievements during 2017, Omran said that the growth rate of the net investments posted 40 percent compared to what has been achieved at the end if the last financial year.

He added that EFSA is paying great attention to the insurance sector during the upcoming period so that 2018 would become the insurance year, where as it is planning to issue a comprehensive law for the insurance sector and private insurance funds.

In August 2017, Egypt has picked former stock market chief Mohamed Omran to lead the Egyptian Financial Supervisory Authority (EFSA), the agency responsible for the supervision of non-banking financial markets and instruments.