A number of private insurance companies in Ethiopia have reported their unaudited gross profits for the 2021 / 2020 G.C (2013 E.C) budget year which ended on June 30, 2021 G.C (ሰኔ 2013). We have estimated the profit of the remaining banks by carefully analyzing previous year growth, current year’s performance as well as other key factors. We also consider one year’s worth of news to see for major expenses such as land and building purchase. Quarterly and half-year reports have also been considered to compile the list below. The following table will be adjusted whenever new and verified information is available.

Legend

  • [u] – Unaudited report reported by the bank
  • [e] – Estimation by our team
RankCompanyGross ProfitNet ProfitReference
1Awash Insurance200 – 350 million [e]
2Ethiopian Re-Insurance220.6 million194.9 million
3Nyala Insurance194 million171 million
4United Insurance169 million145.1 million
5Nib Insurance166.8 million148.2 million
6Nile Insurance158.1 million134.1 million
7Oromia Insurance140.9 million127 million
8Abay Insurance78.9 million67.7 million
9National Insurance (NICE)62 million59.7 million
10Lion Insurance59.1 million57 million
11Africa Insurance45 – 75 million [e]
12Global Insurance46.8 million40.4 million
13Berhan Insurance45.6 million42.2 million
14Tsehay Insurance42.7 million42.7 million
15Bunna Insurance36.2 million34.6 millionBUNNA INSURANCE  2021/2020 Profit
16Ethio Life and General Insurance (ELiG)22.7 million22.7 million
17Zemen Insurance-3.66 million-3.66 million
18Lucy Insurance-28.6 million-28.6 million

For a more detailed report with additional data such as Assets, Paid-up Capital, Gross Premium, Earning per share (EPS), please visit the next link. –> Annual Financial Performance of Ethiopian Insurance Companies for 2021/2020 G.C (2013 E.C) budget year