Awash Insurance has announced 18 million birr in revenue in the first quarter of the current fiscal year. The Ethiopian insurers paid out 69 million birr in claims which is 19 million birr more than the same period last year. 
Awash Insurance was able to sale 203 million birr worth of insurance policies over the last year exhibiting a 46% increase from the previous year according to Kenea Daba, head of the Awash board.
It is to be remembered that the amount paid to shareholders saw a 17% decrease in the last fiscal year as compared to the previous year.Assets on the other hand grew to 233 million birr showing a 50% from 154 million the year before.
Life Insurance remains a small earner in the insurance business raising no more than 11.7%. There are however indications that this sector is experiencing some growth according to the report presented by Awash Insurance.
Awash Insurance currently has 60 million in paid up capital which is approximately double of what it had two years ago.
The Insurance Company has announced plans to utilize new software to enhance their insurance network. Awash has recently constructed a twin tower building in Kality in Collaboration with its sister company Awash International Bank.
Source: Capital
