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Elham AbolFateh

Business

EGB 53 bln investment revenues of insurance funds in 2016/2017 FY: Minister

Thursday 14/December/2017 - 07:03 PM
Sada El Balad
Hassanein Tayea
The Board of Directors of the National Social Insurance Authority، headed by Ghada Wali، Minister of Social Solidarity، held a meeting to discuss the final accounts of the Social Insurance Fund in 20162017 fiscal year.

According to the final accounts of Egypt’s Insurance Fund، the insurance premiums witnessed an increase amounted at EGB102.6 billion، an increase of EGB4.4 billion compared to the targeted value this year. While investments returns estimated at EGB 37.3 billion، an increase of EGB 4.2 billion.

The final accounts of the Public and Private Fund revealed the increase of Insurance revenues to about EGB74 billion، of which EGB16 billion as investment returns. The balance of the insurance reserves of the fund amounted to EGB 160.9 billion.

The Minister reviewed the latest developments regarding the formation of a dispute settlement committee with the Ministry of Finance، as it was confirmed that due sukuk must be issued on time. The National Authority received a check valued at EGB 4.4 billion in January 2017، with a 9% interest rate per month.

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