Insurance Companies in Ethiopia Latest News

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United Insurance earns 121ml br gross profit for 2019 / 2018 fiscal year

United Insurance Company SC (UNIC Ethiopia) has registered massive achievements in the past fiscal year with 55 percent profit growth. In its annual general assembly held at the Ethiopian Skylight Hotel on Thursday November 14, UNIC disclosed that its gross profit for the 2018/19 financial year stood at 121.2 million birr, which is one of the top in the industry.

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Zemen Insurance, in the last stages of joining the insurance industry

The 18th insurance firm, Zemen, is in the last stage of joining the insurance industry, only waiting for final approval from the National Bank of Ethiopia.

Zemen has finalised the formation process by 926 shareholders, who raised 81.5 million Br in paid-up capital from the subscribed capital of 114.6 million Br.

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