Nib Insurance managed to earn 172.9 million birr gross profit after collecting a gross written premium of 709.4 million birr for the 2022/2011 budget year. Compared to the previous year, the company gross written premium grew by 24% while the company’s profit grew by 6.1 million birr or by 3.7%.

Out of the total premium collected, 90.9% of it is for non-life insurance while the remaining 9.1% is for life related insurance.

The company managed to pay claims worth 311.3 million birr out of which motor insurance has the largest share. Medical insurance was the second largest sector for the paid claims amounting 20 million birr.

Out of the 19 private insurance firms in Ethiopia, Nib Insurance is one of seven insurance companies which has a capital of more than 500 million birr. The current capital amount of Nib Insurance is 629.9 million birr and it’s assets have reached 1.23 billion birr. Nib Insurance has 51 branches with 408 permanent staff.