Zemen Insurance Company Latest Ethiopian News

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Annual Financial Performance of Ethiopian Insurance Companies for 2021/2020 G.C (2013 E.C) budget year

Private Insurance companies in Ethiopia have reported their gross and net profits, earning per share and other key financial performance indicators for the 2021 / 2020 G.C (2013 E.C) budget year which ended on June 2021 G.C (ሰኔ 2013). We have compiled the insurance companies’ Assets, paid up capital, Gross Premiums, Gross Profit, Net Profit and EPS from their annual financial report for the stated year below.

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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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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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Products and Services in Ethiopia

Date: Aug 09, 2022
Currency (Code) Buying Rate Selling Rate
US DollarUS Dollar(USD)52.239853.2846
EuroEuro(EUR)53.268954.3343
Pound SterlingPound Sterling(GBP)60.375761.5832
UAE DirhamUAE Dirham(AED)12.870813.1282
Saudi RiyalSaudi Riyal(SAR)12.578712.8303
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