Egypt's insurance funds pay $637mln in benefits in 2020

By the end of 2020, the number of private insurance funds registered at the FRA reached 686 with 5 million citizens

  
An employee counts Egyptian pounds at a foreign exchange office in central Cairo, Egypt, March 20, 2019. Image used for illustrative purpose.

An employee counts Egyptian pounds at a foreign exchange office in central Cairo, Egypt, March 20, 2019. Image used for illustrative purpose.

REUTERS/Mohamed Abd El Ghany

Cairo – Mubasher: The Egyptian Financial Regulatory Authority (FRA) has been selected as a member of the executive committee of the International Organisation of Pensions Supervisors (IOPS) for 2022-2023 for the fourth time in a row.

By the end of 2020, the number of private insurance funds registered at the FRA reached 686 with 5 million citizens paying EGP 10.5 billion in premiums, the FRA's Chairman, Mohamed Omran, said in a statement on Sunday.

The funds paid EGP 10 billion in insurance benefits to its members during the year, Omran added.

Source: Mubasher

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