Egypt’s FRA Oks private insurance funds’ 2.3bn pounds investments in 3 months

Egypt’s market regulator approved on Monday investments of around 2.3 billion Egyptian pounds ($146.1 million) in favour of private insurance funds during the second quarter of this year.

Earlier, the investments recorded 3.05 billion pounds during the second quarter of 2019.

“The private insurance funds’ investments marked a 24.5 percent drop or about 750 million pounds during the second quarter of 2020,” the Egyptian Financial Regulatory Authority (FRA) said in its monthly report.

These investments represent in 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, FRA added.