Berhan Insurance S.C has reported a net annual profit of 2.18 million birr.

The Company has earned an underwriting surplus of 10.58 million birr, an increase of 301 percent when compared to a year earlier. It also earned 1.81 million Br in investment income – an increase of 308 percent.

Berhan managed to collect 53.42 million birr from premiums, a 46 percent increase. Berhan's total assets has jumped to 57.33 million birr, out of which 31.13 million birr has been invested in interest bearing accounts and 7.1 million birr in shares.

Berhan has paid and provided for claims to the sum of 19.6 million birr. This accounts for 64.9 percent of the underwriting surplus earned before claims, according to Fortune.

Berhan Insurance S.C started operations in June 2011. In June 2013, Berhan had a subscribed capital of 31.1 million birr and paid up capital of 17.4 million birr.

Source: Fortune