Hibret Insurance Reports ETB 525 Million Profit, Exceeding Expectations
Hibret Insurance has posted a net profit of over ETB 525 million after tax for the this concluded financial year, representing a 60% increase compared to last year.
The company achieved total premium income of nearly ETB 2 billion, with ETB 1.72 billion from non-life insurance and the remainder from life insurance. Hibret Insurance also surpassed a paid-up capital of ETB 1.068 billion. Despite paying over ETB 693 million in claims, the company maintained strong profitability, reinforcing its position in Ethiopia’s insurance sector.
During its 30th annual general meeting held yesterday, Board Chairman Wendeson Teshome acknowledged the company’s achievements, marking a significant year in Hibret Insurance’s three-decade history.
Hibret Insurance has posted a net profit of over ETB 525 million after tax for the this concluded financial year, representing a 60% increase compared to last year.
The company achieved total premium income of nearly ETB 2 billion, with ETB 1.72 billion from non-life insurance and the remainder from life insurance. Hibret Insurance also surpassed a paid-up capital of ETB 1.068 billion. Despite paying over ETB 693 million in claims, the company maintained strong profitability, reinforcing its position in Ethiopia’s insurance sector.
During its 30th annual general meeting held yesterday, Board Chairman Wendeson Teshome acknowledged the company’s achievements, marking a significant year in Hibret Insurance’s three-decade history.