The total assets of insurance companies surged to LE58.81 billion during the first quarter of 2015, up 11 percent from LE52.99 billion in 2014, according to the Egyptian Financial Supervisory Authority.
Assets owned by public insurers stood at LE34.84 billion, compared to LE6.34 billion for local private insurers and LE17.71 billion for foreign insurers, according to EFSA’s monthly report released Sunday.
Insurance companies recorded LE1.15 billion of cash at banks, according to the report, which set the total of their investments at LE51.63 billion.
Edited translation from Al-Masry Al-Youm
