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Despite a notable improvement in profitability, the earnings per share (EPS) of Oromia Insurance saw a marked decline in the last fiscal year.
The company’s profit after tax went up by 20pc to 87.3 million Br, while the EPS slid by 20 Br to 390 Br, undermined by a marked increase in paid-up capital.
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Ranked among the top three insurance companies two years back, Africa Insurance Company registered only the second loss in its quarter century existence.
The company registered a loss of 2.8 million Br, a drastic fall from the 59.1 million Br profit it made the preceding year. The loss translated into a huge fall in earnings per share that dropped to 16 Br from 334 Br.
Nyala Insurance has earned a gross profit of 184.3 million birr, which is the largest profit recorded from all the private insurance companies in Ethiopia for the year 2019 / 2018.
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The first Ethiopia reinsurance company, Ethiopian Reinsurance Earns 133.8 million birr net profit for 2019 / 2018 f.y
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Tsehay insurance has reported that it has earned 33.6 million birr net profit for the 2019 / 2018 fiscal year. The net profit has showed an increase of 13% compared to last year.
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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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Berhan Insurance has reported that it has earned 25.5 million birr gross profit for the year concluded June 30, 2019. In the annual shareholder meeting held in Addi Ababa, the insurance company reported that assets have climbed to 410 million birr.
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Bunna Insurance S.C has earned 26.8ml Br profit for the 2019 / 2018, registering a small increase of 6pc compared to last year. Bunna’s paidup capital increased to 112.6 million Br.
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Nile Insurance conducted it’s annual shareholder meeting and announced it has earned 129 million birr gross profit for the 2019 / 2018 fiscal year. Out of the 129 million birr, 69.1 million birr is from vehicle / motor insurance.
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Nib Insurance has reported that it has earned a gross profit of 113.2 million birr. The company reported that this year’s profit is the highest profit recorded in it’s 17 years of operation.
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