Anbessa (Lion) Insurance has earned 63.9 million birr profit before tax for the 2022/2021 budget year. The company managed to collect 436.5 million birr in premiums. Compared to the previous year, the company’s written premium increased by 38.2 million birr compared to the previous year.
The company managed to earn 74.2 million birr from various source including bank interest. Similar to other insurance companies, the largest collection of the premiums is from motor sector amounting 56.7%.
The company paid 165.5 million in claims which is 23 million birr less than the amount paid in 2021/2020 budget year amounting 188 million birr. Unpaid and unfinished claims amounting 198.9 million birr have been transferred to the 2023/2022 budget year.
The company’s total assets reached 1.32 billion birr which is an increase of 35% or 345.1 million birr. The bank’s total capital reached 300 million birr while it’s paid up capital reached 194.9 million birr.
The company managed to earn 61.8 million birr after tax which yielded an earning per share (EPS) of 8.52 which is a small decrease compared to the previous year amounting 9.04 birr.
Anbessa (Lion) Insurance currently has 41 branches and 355 employees.