Ethiopian insurance companies have collected combined gross premiums of 4.5 billion Ethiopian birr from general insurance, in the 2012/13 fiscal year, Fortune reported citing unaudited aggregated report of the National Bank of Ethiopia.
The amount showed a 17.7 percent growth from the 2011/12 aggregate performance.
Ethiopian Insurance Company, which is a state-owned company, said it earned a gross profit of Birr 946.3 million in 2017/18 fiscal year. General insurance services contributed to 96 percent of the profits while the company’s insurance coverage worth birr 2.2 trillion. It also registered net underwriting of 1.1 billion and paid Birr one billion for claims.
Nyala Insurance Share Company (NISC) announced its commitment to improve the accessibility of insurance services in rural
areas in Ethiopia this week. The Insurance Company is taking various measures to benefit rural communities according to Eyob Meherette, Company Chief Executive Officer.
A large percent of rural communities have no access to insurance services Eyob explained at a meeting for shareholders held at the Sheraton Addis. The company is resolved to benefit underprivileged communities in rural areas he stated.
Ethiopian Insurance Corporation (EIC), the state-owned insurer has collected premiums of 2.1 billion Ethiopian birr, in the just ended fiscal year, Fortune reported citing the corporation's annual report released on Friday, August 30, 2013.
EIC has missed by 1.2 percent of its target of collecting 2.5 billion birr. However, the corporation's premium collection has grew by 46.3 percent compared to the previous year.
The Ethiopian Insurance Corporation (EIC) is reporting a boost in its risk management capacity, exceeding Birr 6.2 trillion in the first nine months of the current Ethiopian fiscal year. This marks a 50% increase from the same period last year.
