[May 2022] Insurance Companies in Ethiopia Latest Ethiopian News

Most profitable Ethiopian Private Insurance Companies for 2021/2020 budget year

Nov 28, 2021 | 0

A number of private insurance companies in Ethiopia have reported their unaudited gross profits for the 2021 / 2020 G.C (2013 E.C) budget year which ended on June 30, 2021 G.C (ሰኔ 2013). We have estimated the profit of the remaining insurance companies by carefully analyzing previous year growth, current year’s performance as well as other key factors. The following table will be adjusted whenever new and verified information is available.

Bunna Insurance Grosses 36.2mln br profit for the 2021 / 2020 fiscal year

Nov 28, 2021 | 0

Bunna Insurance has has underwritten a Gross Written Premium (GWP) of 335.1 million birr which is 22% more than the target amount of 274 million birr. The company’s premium has shown an increase of 34% compared to the previous year’s amount of 249.2 million birr.

Nib Insurance Nets 145ml br profit for 2020/2019 budget year

Mar 21, 2021 | 0

Nib Insurance, an 18-year-old firm, registered a remarkable leap in profit growth last fiscal year, netting 145.2 million Br, a 38.8pc increase from the previous year.

The massive expansion in profit pushed Nib’s earnings per share (EPS), net profit divided by the total outstanding shares, to grow by eight percent to 177 Br.

Lucy Insurance Earns 9.5ml birr net profit for 2020/2019 f.y

Mar 21, 2021 | 0

Lucy Insurance reversed the profit decline it faced two years ago and netted 9.5 million Br in profits over the last fiscal year, a 51pc growth from the previous year. Its earnings per share (EPS) have also risen by 47pc to 75 Br.

Two years ago, the firm’s profit and EPS dwindled due to stagnant gross written premium, an increase in commission payments, a surge in claims and rising expenses. During the period in question, Lucy’s profits dropped by almost 20 million Br to 6.3 million Br.

Top Insurance Companies in Ethiopia for 2020/2019 budget year

Jan 4, 2021 | 0

As per the annual reports of insurance companies in Ethiopia, here is a list of the top profitable insurance companies in Ethiopia.

Berhan Insurance Grosses 33.7 million birr profit before tax for 2020/2019 budget year

Dec 22, 2020 | 0

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.

Africa Insurance Nets 45 million birr Profit for the 2020/2019 budget year

Dec 21, 2020 | 0

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.

Tsehay Insurance Earns 30.2 million birr Net Profit for 2020/2019 budget year

Dec 20, 2020 | 0

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.

Zemen Insurance Earns 18.3 million birr profit in it’s first year of operation (2020/2019 budget year)

Dec 11, 2020 | 0

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.

Bunna Insurance Earns 20 million birr net profit for 2020 / 2019 budget year

Dec 8, 2020 | 0

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.

Currency (Code)	Buying Rate	Selling Rate
US Dollar(USD)	51.4571	52.4862
Euro(EUR)	54.3181	55.4045
Pound Sterling(GBP)	60.7094	61.9236
UAE Dirham(AED)	12.6769	12.9304
Saudi Riyal(SAR)	12.4143	12.6626

Insurance Companies in Ethiopia Latest News