Financial control: 570 private insurance funds in Egypt with assets of 70 billion pounds

Economy and stock exchange

The number of private insurance funds in Egypt has reached 570, with 4.8 million members, with a total assets of about 70 billion pounds and a reserve fund of about 65 billion pounds until the end of 2018. It is expected that the size of insurance benefits received by members of these funds about 7.5 billion pounds by the end of last year.

He added that the Authority is working on developing the insurance system chosen by the private insurance funds in the new insurance bill through amendments to the development of the mechanisms of forming the boards of private insurance funds, how to hold and manage the general assemblies and increase the level of Transparency and disclosure, applying the rules of good governance to the management of private insurance funds, and allowing the establishment of special funds according to the three internationally known systems, the specific advantages, the specific contributions, the mixed system, which combines the two systems, else.

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