Africa Insurance, one of the first insurance companies in Ethiopia has reported that it has earned more than 45 million birr for the 2020/2019 budget year. The company reported a loss of 2.8 million birr for the previous budget year.
The company’s gross written premium reached 573.7 million birr, which is 20.9 million birr greater than the previous year. Total claims paid reached 423 million which is a decrease from the previous year’s 509 million birr. This shows a decrease of around 86 million birr.
Africa Insurance earned 111 million birr from various types of investments. The company’s assets has now reached 1.4 billion birr.