Awash Insurance Earned 333.9 million birr gross profit for the 2022/2021 G.C (2014 E.C). The insurance company’s shareholders raised the capital of the company from 1.2 billion birr to 4 billion birr in order to be more competitive on the market.
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Private Insurance companies in Ethiopia have reported their gross and net profits, earning per share and other key financial performance indicators for the 2021 / 2020 G.C (2013 E.C) budget year which ended on June 2021 G.C (ሰኔ 2013). We have compiled the insurance companies’ annual financial report for the stated year below.
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As per the annual reports of insurance companies in Ethiopia, here is a list of the top profitable insurance companies in Ethiopia.
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Awash Insurance, which celebrated its silver jubilee, has managed to boost its net profit by 31pc to 209.8 million Br during the past fiscal year. The firm also managed to reverse the decline in shareholder return.
Two years ago, Awash’s earnings per share (EPS) slipped by 17pc despite the increase in profits; however, the return for its 1,384 shareholders has registered a marginal rise in the last fiscal year by 5.3pc to 200 Br. Yet the EPS is still lower than that of two years ago, which reached 230 Br.
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This is a list of the most profitable private insurance companies in Ethiopia as per their annual financial performance of 2019 / 2018 fiscal year.
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Awash Insurance has recovered from its profit decline, registering 128.7 million Br in profits...
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