Top Insurance Companies in Ethiopia for 2020/2019 budget year
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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Insurance Companies in Ethiopia Latest News
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Berhan Insurance Grosses 33.7 million birr profit before tax for 2020/2019 budget year
The company earned 33.7 million birr before tax for the 2020/2019 budget year which is an increase of 9.4 million birr compared to previous year. Berhan Insurance has reported that it has earned a gross written premium of 139.8 million birr for the 2020/2019 budget year which is a 15% increase from the previous year.
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Africa Insurance Nets 45 million birr Profit for the 2020/2019 budget year
Africa Insurance, one of the first insurance companies in Ethiopia has reported that it has earned more than 45 million birr for the 2020/2019 budget year. The company reported a loss of 2.8 million birr for the previous budget year.
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Tsehay Insurance Earns 30.2 million birr Net Profit for 2020/2019 budget year
Tsehay Insurance has reported that it has earned a gross written premium of 323 million birr. This amount is an increase of 23 million birr or 8% compared to the previous budget year. The net profit of the bank reached 30.2 million birr.
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Zemen Insurance Earns 18.3 million birr profit in it’s first year of operation (2020/2019 budget year)
Zemen Insurance Company, the latest company to enter the Ethiopian insurance sector has reported that it earned a profit of 18.3 million birr. In it’s 6 months of operation, the company only managed to collect an income of 161,840 birr while it’s profit was 18.3 million birr. Out of the 161,840 birr the company collected, 138,518 was for motor insurance while 23,322 is for marine insurance related activities.
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Bunna Insurance Earns 20 million birr net profit for 2020 / 2019 budget year
During 2020/2019 budget year, Bunna Insurance has earned a net profit of 20.05 million birr which is 68% of the planned 29.62 million birr. The current year’s profit is also 28% lower than last year’s profit of Birr 27.92 million. The Earning per share (EPS) of the company has decrease from 26.96 for the 2019 / 2018 budget year to 15.96 birr for the 2020 / 2019 budget year.
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Nile Insurance Earns 128.8ml birr profit before tax for 2020/2019 budget year
Nile Insurance, one of the few insurance companies in Ethiopia which has been operating for 25 or more years, has reported that it earned a gross profit of 128.8 million birr. It’s earning per share (EPS) dropped from 325 birr for the 2019/2018 budget year to 296 birr for the current year.
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United Insurance Company (UNIC) Nets 147.8 million birr profit for 2020/2019 budget year
United Insurance Company (UNIC) has reported that it gross written premium reached 597.4 million birr for the 2020 / 2019 budget year. The company’s profit has increased by 22%. The company’s profit before tax increased to 147.8 million birr while it’s earning per share decreased from 337 birr for the 2019/2018 fiscal year to 299 birr for the current year.
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Awash Insurance Earns 209 million birr net Profit for 2020 / 2019 f.y
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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Bunna International Bank & Bunna Insurance aquire buildings worth 285 and 130 million Br
Bunna International Bank and Bunna Insurance have invested 285 million Br and 130 million Br, respectively, to acquire two separate buildings as their headquarters.
Bunna Bank bought an eight-storey building with a terrace and basement located near Africa Avenue. The Bank bought the building without a bidding process.
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Products and Services in Ethiopia
Date: Jan 13, 2021
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Companies and Businesses in Ethiopia
