Cairo-Mubasher: Investments of private insurance funds reached EGP 43 billion last year, a rise of 8% over EGP 40 billion a year earlier, said Sherif Samy, chairman of the Egyptian Financial Supervisory Authority (EFSA).
He added that subscriptions to 625 private insurance funds totalled EGP 5.2 billion, rising 5.3% compared with a year earlier.
EFSA helps such funds adjust their status according to the amendments of the executive regulations of fund law, the official said.
In 2015, 22 new private insurance funds were registered, Samy said, noting that 49% of the funds are established by employees at government and sovereign entities, 25% by syndicates and 13% by employees at the public sector and public business sector.
