Insurance Companies Capitals hit $762 mln: EFSA

Big 5

The total volume of Insurance companies’ capitals has increased to 5.917 billion Egyptian pounds (US$ 762 million) at the end of third quarter of Fiscal year 2014-15, Egyptian Financial Supervisory Authority (EFSA) said Saturday.

EFSA’s monthly reports showed that the capitals of public sector’s firms reached 3.25 billion Egyptian pounds at the end of March 2015 seizing 55% of insurance firms’ total capitals, meanwhile foreign private sector’s firms captured 27%.

According to the reports, the capitals of local private sector firms reached EGP 1.084 billion at the end of the first quarter of 2015, capturing 18% of total capitals excluding Mohandes Insurance Company’s portfolio.

The reports further stated that the total rights of policies holders recorded EGP 41.065 billion by the end of March compared to EGP 37.060 billion at the same period of 2014 marking 11% growth rate.

Moreover, the total rights of share holders increased by 6 % during the first quarter of the 2015 recording EGP 10.295 billion at the end of March 2015 versus EGP 9.691 billion at the same period of 2014.