Non - Banking Financial

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The req. of Tech. structure & info. security systems for hosting providers
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Private insurance funds is linked to the insurance sector and it is one of the forms of savings instruments. Private insurance funds are special insurance systems registered at FRA’s registry which is created for this purpose. In this respect, they are separate from the entity which created them. Private insurance funds are created for the purpose of granting benefits to a group of employees, namely insurance benefits, additional pensions, social benefits or health care.

By the end of 2017, number of private insurance funds existing in Egypt reached 719, of which 664 came into effect and 55 were under liquidation, benefiting about 5 million members, of which 310 thousand new members during 2017, with total annual contributions of 7.6 billion EGP by 31/12/2017. The number of funds with more than one billion EGP is 11 funds. Meanwhile, small-sized funds (from 250 million EGP or less) are 601 funds, and the remaining medium-sized funds are between 250 million EGP and 1 billion EGP. By the end of 2018, number of insurance funds was about 733 funds, of which 671 came into effect and 62 were under liquidation.

In addition, assets of private insurance funds amounted to about 67.89 billion EGP on 31/12/2017, of which 61 billion pounds were financial investments where the percentage of investment in asset- backed securities is 72% with a value of 43.8 billion EGP. While percentage of investment in shares was 1.8% with a value of 1.1 billion EGP and investment in deposits was 22%.