Basel El Hini, deputy chairman of Misr Insurance Holding Company for investment affairs, said the Egyptian insurance sector needs to exchange experiences with African markets, calling on the Insurance Federation of Egypt (IFE) to cooperate with African insurance unions.
Egypt also needs to diversify its investment channels and foster cooperation with African countries because of the geographical closeness, he noted.
During his address at 40th conference of the African Insurance Organization, he stressed the need for linking insurance activities with investment at insurance companies as they rely on long-term investments.
He called on the leaders of insurance companies to focus on achieving high investment returns and premiums rather than high profits.
Insurance companies are facing another challenge which is the lack in long-term investment channels as there are no many treasury bonds with maturities exceeding five years; therefore, insurers shall turn to invest in industrial and real estate projects, he concluded. 
