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[Oct 2017] Africa Insurance Company 2014 Profit Latest Ethiopian News AddisBiz.com | Ethiopian Business Directory & Portal - Addis Biz

Africa Insurance Boosts Profit by 40pc to 37 million

Africa Insurance Company, one of the first insurance companies in the country that reached their 20th anniversary, managed to increase its profit after tax by 42pc reaching 37 million Br and the earnings per share reached 478 Br from the prior year’s 408 Br.

Although the Bank has registered such a profit increase in the fiscal year, it has incurred an underwriting deficit of 94o,584 Br, falling down from the preceding year’s surplus of 24.6 million Br.

“This is disappointing performance in the general insurance business,’’

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