Nib Insurance has reported that it has earned a gross profit of 113.2 million birr. The company reported that this year’s profit is the highest profit recorded in it’s 17 years of operation. 89.2 million birr was from non-life insurance sectors while the remaining 24.1 is from life insurance sector.
Compared to the previous year, this year’s gross profit has shown an increase of 55 million birr.
This year’s earning per share has also increased to 164 birr, which is 32.3% higher compared to last year.
The company’s investments in Nib International Bank, Agar Micro-finance, Ethiopian Re-Insurance, Jemar Hulugeb Industry s.c has reached 170.9 million birr.
The company invested 306.4 million birr for it’s head office building construction, construction of dire dawa hulugeb building and other ventures.
The company’s paid up capital has reached 319.2 million and has showed an increase of 69.2 million birr compared to the previous year.
Nib Insurance S.C has 42 branches and 421 employees.