Private insurance funds’ investments in Egypt 24.2% up in 2018

By Eslam Abdelhameed On Oct 15, 2019

Egypt’s market regulator FRA — Egypt's Financial Regulatory Authority (FRA) - previously the Egyptian Financial Supervisory Authority (EFSA)

Investments by private insurance funds in Egypt reported a 24.2 percent growth year-on-year during the last year, said the country’s market regulator in a report on Tuesday.

Investments stood at 8.7 billion Egyptian pounds ($535.7 million), up from 7 billion pounds during 2017, the Egyptian Financial Regulatory Authority’s (FRA) report showed.

At the end of 2018, investments rose 9.8 percent to 67 billion pounds against 61 billion pounds at the end of 2017, the report added.

“The number of private insurance funds reached 670 at the end of 2018, up from 664 at the end 2017,” the report showed.