Cairo – Mubasher: Sarwa Capital Holding for Financial Investments announced signing an agreement with the US Prudential Financial Inc’s wholly-owned Impact & Responsible Investing unit.
Under the deal, the US firm will inject investments into Sarwa Life Insurance, according to a statement.
The value of these investments wasn’t disclosed.
Prudential’s Impact & Responsible is setting up an investment portfolio valued at $1 billion to achieve “financial returns and meaningful social impact,” the statement added.
The chairman and CEO of Sarwa Capital noted that “Prudential’s investment will help Sarwa Life accelerate the roll out of quality and innovative products to the market.”
It is noteworthy that in March, the Financial Regulatory Authority (FRA) granted Sarwa Life Insurance an operating licence to offer life and health insurance services as well as long-term savings products.
