Egypt – 41.2% increase in ins. assets in 2016-2017
Friday, 09 28 2018, Category: Insurance and Reinsurance, Country: Egypt
The Central Bank of Egypt announced that the insurance sector witnessed a significant development during last year in terms of the growth of assets, which reached EGP 98.1 billion during the financial year 2016-2017 i.e. a growth rate of 41.2%.
Moreover, the central bank added in the financial stability report issued on Thursday that many initiatives were taken to support the different economic sectors and increase credit facilities in order to support financial inclusion.
Furthermore, the report said that the net investments represented the largest share of assets i.e. 87.2%.
Source: Al Masdar newspaper