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NIB’s profits on decline in the 2015/2016 year

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Magazine Issue: 
The world upside down [3]
Magazine date: 
Feb 2017

NIB Insurance has posted before-adjustment profits on a 25% decrease at 42 million ETB (1.9 million USD) over the last fiscal year. The insurer’s profits have gone down for a second year in a row. This contraction has been accounted for by the almost stagnation of turnover.

The increase in the premiums written did not exceed 1% at 366.8 million ETB (17.3 million USD). Moreover, loss experience has risen by 14% at 215 million ETB (10 million USD) while domestic costs have increased especially because of the rise in the number of staff members.

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Mon, 27/03/2017 - 14:18

Source URL: https://www.atlas-mag.net/en/article/nib-s-profits-on-a-sharp-decline-in-the-20152016-year

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