Awash Insurance posts a profit in the 2015-2016 year
Awash Insurance Company (AIC) has reported 91 million ETB (4.3 million USD) in net profits in the course of the 2015/2016 year. This performance accounts for a 41% growth, in comparison with the previous year. During the past year, the company posted an increase of 19% in written premiums in non life insurance and 13% in life business.
With 8% of market shares, AIC is regarded as the country’s second insurer. Its paid-up capital amounts to 200 million ETB (9.5 million USD). The Ethiopian insurer has recently invested 25 million ETB (1.2 million USD) in Ethio Reinsurance Company, a newly established reinsurer on the local market.
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