Magazine date:
Dec 2013 Awash Insurance has doubled its profit per share (433 ETB, 22.8 USD) during the year 2012/2013. After-tax profit jumped by 114% at 69.23 million ETB (3.6 million USD). This move resulted from an increase of 7.3 % of gross premiums at 346.5 million ETB (18.3 million USD), coupled with greater retention.
This increase in retention means greater participation of the insurer in risks, a winning strategy thanks to a loss ratio of 52.75%, compared to 63.8 % a year earlier.