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Delta Insurance suspended negotiations with a bank over launching an investment fund, due to the current unrest in Egypt. Negotiations will be resumed over the method of the fund management and the terms of reference of both the company and the bank, said El-Sayed El-Gohary, chairman of Delta Insurance.
Amid the current instability, it is not the suitable time for forming new funds as they depend on the stock market’s results, El-Gohary added.
A new fund was destined to be launched by Delta Insurance last March with initial capital of EGP 100 million, which may be increased in the upcoming period.
It is worth mentioning that Arab Misr Insurance Group (AMIG) and Egyptian Takaful Insurance Company have investment funds in Egypt’s market.
