Insurance Companies in Ethiopia Latest News

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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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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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Products and Services in Ethiopia

Date: Mar 05, 2021
Currency (Code)Buying RateSelling Rate
US DollarUS Dollar(USD)40.210741.0149
EuroEuro(EUR)48.401649.3696
Pound SterlingPound Sterling(GBP)53.539054.6098
UAE DirhamUAE Dirham(AED)990.63001,010.4426
Saudi RiyalSaudi Riyal(SAR)970.0100989.4102
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