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
Rank | Company | Gross Profit | Net Profit | Reference |
1 | Awash Insurance | 200 – 350 million [e] | ||
2 | Ethiopian Re-Insurance | 220.6 million | 194.9 million | |
3 | Nyala Insurance | 194 million | 171 million | |
4 | United Insurance | 169 million | 145.1 million | |
5 | Nib Insurance | 166.8 million | 148.2 million | |
6 | Nile Insurance | 158.1 million | 134.1 million | |
7 | Oromia Insurance | 140.9 million | 127 million | |
8 | Abay Insurance | 78.9 million | 67.7 million | |
9 | National Insurance (NICE) | 62 million | 59.7 million | |
10 | Lion Insurance | 59.1 million | 57 million | |
11 | Africa Insurance | 45 – 75 million [e] | ||
12 | Global Insurance | 46.8 million | 40.4 million | |
13 | Berhan Insurance | 45.6 million | 42.2 million | |
14 | Tsehay Insurance | 42.7 million | 42.7 million | |
15 | Bunna Insurance | 36.2 million | 34.6 million | BUNNA INSURANCE 2021/2020 Profit |
16 | Ethio Life and General Insurance (ELiG) | 22.7 million | 22.7 million | |
17 | Zemen Insurance | -3.66 million | -3.66 million | |
18 | Lucy 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