Record profits for Nyala Insurance

Nyala Insurance is one of the main Ethiopian private insurance companies. It posted gross profits of 101.6 million ETB (5 million USD) in 2014-2015 compared to 77.8 million ETB (4 million USD) a year earlier. It is the best result made by the company in 20 years.

The life and non life classes of businesses exhibited positive results, accounting for 86.9 million ETB (4.3 million USD) of the overall result. The gross premium volume has reached 343.5 million ETB (17 million USD).

Nyala Insurance has announced that it will soon increase its share capital.