Ethio-Re: 2018-2023 financial performance

Ethiopian Reinsurance (Ethio-Re) has published its key business indicators for the last five years, from 30 June 2018 to 30 June 2023.

The company's turnover has progressed by 204% in five years, going from 661.492 million ETB (23.7 million USD) in 2018 to 2.01 billion ETB (36.4 million USD) five years later. Over the period running from June 2022 to June 2023, the turnover has grown by 48.1%.

The combined ratio has deteriorated by 9.16% from 95.1% at the end of June 2022 to 103.82% at the end of June 2023.

The company's pre-tax result for the six months ending 30 June 2023 amounted to 219.014 million ETB (4 million USD), against 78.631 million ETB (2.8 million USD) for the same period in 2018.