Insurance sector investments in treasury bills rise 4.1% – CBE report

The investments of insurance firms in treasury bills have increased by 4.1 percent at the end of November 2015, the monthly report of the Central Bank of Egypt (CBE) showed Thursday.

The report stated that companies’ investments reached 21.141 billion Egyptian pounds (US$2.7 billion) at the end of November 2015 from 20.03 billion pounds at the end of October 2015.

According to the report, the investments of public insurance firms in state’s treasury bills have recorded 17.264 billion pounds at the end of November 2015 opposed to 16.268 billion pounds a month earlier, seizing 81.6 percent of the total investments.

The investments of private insurance firms in treasury bills hit around 3.650 billion at the end of November 2015 while the branches of foreign insurance companies have invested 227 million pounds in state’s treasury bills, the report added.

The CBE pointed out that the investments of private insurance funds in Egypt’s treasury bills have been boosted by 5.4 percent at the end of November 2015 to reach 4.201 billion pounds from 3.984 billion pounds at the end of October 2015.