Hibret Insurance has reported a pre-tax profit of Birr 1.4 billion for the 2025/26 fiscal year, representing a 36.92 percent increase compared to the previous year.

The company's net profit after tax reached Birr 965 million, reflecting a 14.5 percent year-on-year increase.

Speaking at the company's annual general meeting, Board Chairman Wondwosen Teshome described the financial performance as a positive achievement despite the challenges encountered during the reporting period.

The chairman attributed the slower growth in net profit to increased taxes on investment income following revisions to the country's tax legislation.

The company's reported earnings-per-share figure declined from 68.55 percent in the 2024/25 fiscal year to 67.2 percent in 2025/26, reflecting the combined impact of higher taxes on investment income and growth in paid-up capital.

During the fiscal year ended July 7, 2026, Hibret Insurance collected Birr 3.4 billion in total premiums across its life, non-life and general takaful insurance businesses, representing a 24.18 percent increase from the previous year.

Of the total premiums collected, Birr 3.1 billion came from non-life insurance, Birr 196 million from life insurance and Birr 54 million from takaful insurance.

The company's net investment income also increased by 32.64 percent to Birr 722 million, according to the board chairman's report.

Meanwhile, Hibret Insurance's total paid up capital reached Birr 1.9 billion.

The company also disclosed the acquisition of the seven story Building, located in the Beklo Bet area of Addis Ababa, as part of its investments during the reporting period.

Source: Sheger FM 102.1