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[Dec 2017] Ethiopian reinsurance company Latest Ethiopian News | Ethiopian Business Directory & Portal - Addis Biz

EthiopiaRe 40m Br Short Before Establishment

The formation of the Ethiopian reinsurance company faces delay as it falls short by 40 million Br of the 500 million Br in paid-up capital required by the National Bank of Ethiopia.

Organisers are hoping to raise the money by selling the remaining shares to banks before opening the sale to the public. Even then the manner of premium collection proposed for the would-be reinsurer is expected to become a thorny subject, as it could have a share of all premiums collected, and not just from the premium for reinsured

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