Private insurance funds’ first-half investments in Egypt 4% up

Investments by private insurance funds in Egypt reported a 4 percent growth year-on-year during the first half of the year, said the country’s market regulator in a report on Monday.

First-half investments stood at 6 billion Egyptian pounds ($364.6 million), up from 5.8 billion pounds during the same period last year, the Egyptian Financial Regulatory Authority’s (FRA) monthly report showed.

“These investments represent the saving certificates of the National Bank of Egypt A and B, besides its banking deposits and investment policies, in addition to public debt instruments, including treasury bills and bonds,” the report added.

FRA endorsed in June private insurance funds’ investments worth 895 million pounds, 5 percent down from 942 million pounds during the same month in 2018.