Insurance companies’ investments in Egypt’s T-bills 4% up June-end

The total investments of insurance companies operating in the Egyptian government’s treasury bills rose 4 percent year-on-year at the end of June, according to a report.

Investments grew to 41.6 billion Egyptian pounds ($2.5 billion) from 40 billion pounds at the end of last May, the Central Bank of Egypt’s (CBE) recent report showed on Sunday.

“The investments of public-sector insurance companies in treasury bills increased to 35.3 billion pounds during the first six months of 2019 against 34.06 billion pounds at the end of last May,” the report said.

Private-sector insurance companies have invested 5.9 billion pounds in treasury bills at the end of June, up from 5.5 billion pounds at the end of May, marking an increase of around 400 million pounds.

“Foreign insurance companies operating in the Egyptian market recorded investments of about 462 million pounds in treasury bills, up from 461 million pounds at the end of last May,” the report showed.