cbe

USD
56.8022
57.9382
,
GBP
67.5744
68.9259
,
EUR
60.4375
61.6463
,
CHF
59.5391
60.7299
,
SEK
4.695
4.7889
,
NOK
4.6818
4.7754
,
DKK
7.3318
7.4784
,
DJF
0.3181
0.3245
,
JPY
0.3324
0.339
,
CAD
37.2237
37.9682
,
SAR
13.7039
13.978
,
AED
13.9956
14.2755
,
XAF
0.012
0.0122
,
INR
,
KES
,
AUD
33.0232
33.6837
,
SDR
,
ZAR
,
CNY
7.1006
7.2426
,
KWD
175.9743
179.4938

awash

EUR
56.5106
57.6408
,
GBP
64.5257
65.8162
,
JPY
0.4037
0.4118
,
CHF
57.4629
58.6122
,
SAR
14.1527
14.4358

abyssinia

GBP
67.5744
68.9259
,
CHF
59.5391
60.7299
,
EUR
60.4375
61.6463
,
USD
56.8022
57.9382
,
CAD
37.2237
37.9682
,
AED
13.9956
14.2755
,
SAR
13.7039
13.978
,
SEK
4.695
4.7889
,
NOK
4.6818
4.7754

abay

USD
56.5376
57.6684
,
EUR
61.7956
63.0315
,
GBP
72.289
73.7348
,
CHF
64.3716
65.659
,
AUD
37.3657
38.113
,
AED
15.3911
15.6989
,
CNY
7.8594
8.0166
,
DKK
8.2877
8.4535
,
DJF
0.3166
0.3229
,
INR
0.6826
0.6963
,
JPY
0.3821
0.3897
,
KES
0.4082
0.4164
,
NOK
5.3785
5.4861
,
SAR
15.0739
15.3754
,
ZAR
3.0306
3.0912
,
SEK
5.5156
5.6259
,
SDR
78.118
79.6804

zemen

CAD
41.1592
41.9824
,
EUR
60.3636
61.5709
,
GBP
70.6939
72.1078
,
SEK
5.1874
5.2911
,
USD
56.7914
57.9272

buna

nib

GBP
67.5744
68.9259
,
EUR
60.4375
61.6463
,
CHF
59.5391
60.7299
,
USD
56.8022
57.9382
,
CAD
37.2237
37.9682
,
AED
13.9956
14.2755
,
SAR
13.7039
13.978

berhan

wegagen

USD
56.704
57.8381
,
GBP
68.416
69.7843
,
EURO
61.4501
62.6791
,
CAD
37.8361
38.5928
,
AUD
33.7923
34.4681
,
CHF
59.9428
61.1417
,
SEK
4.8272
4.9237
,
NOK
4.7926
4.8885
,
DKK
7.4566
7.6057
,
DJF
0.2862
0.324
,
INR
0.6803
0.6939
,
KSH
0.4345
0.4432
,
JPY
0.3389
0.3457
,
SAR
13.6809
13.9545
,
AED
13.9722
14.2516
,
ZAR
3.1723
3.2357
,
CNY
7.0934
7.2353
,
KWD
176.0871
179.6088

dgb

enat

USD
56.8022
57.9382
,
GBP
70.7585
72.1737
,
CHF
62.3446
63.5915
,
SEK
5.1879
5.2917
,
NOK
5.1733
5.2768
,
DKK
8.1014
8.2634
,
KES
0.4271
0.4356
,
JPY
0.3673
0.3746
,
DJF
0.3181
0.3245
,
CAD
41.1312
41.9538
,
AUD
36.4897
37.2195
,
SAR
15.1424
15.4452
,
AED
15.4648
15.7741
,
ZAR
2.9861
3.0458
,
CNY
7.846
8.0029

addis

nbe

dashen

USD
56.8022
57.9382
,
GBP
67.5744
68.9259
,
CHF
59.5391
60.729882
,
SEK
4.695
4.7889
,
NOK
4.6818
4.775436
,
DKK
7.3318
7.478436
,
JPY
0.3324
0.339048
,
CAD
37.2237
37.9682
,
SAR
13.7039
13.977978
,
AED
13.9956
14.275512
,
EUR
60.4375
61.6463
,
DJF
0
0
,
INR
0
0
,
KES
0
0
,
AUD
33.0232
33.6837
,
ZAR
0
0
,
CNY
7.1006
7.2426
,
KWD
175.9743
179.4938
,
AED

oromia

USD
55.4509
56.5599
,
EUR
58.7724
59.9478
,
GBP
64.394
65.6819
,
SAR
13.3775
13.6451
,
CHF
59.3141
60.5004
,
AED
13.662
13.9352

lion

USD
56.7914
57.9272
,
GBP
67.5127
68.863
,
EUR
60.3636
61.5709

coop

USD
56.7329
57.8676
,
GBP
71.9543
73.3934
,
EUR
61.6516
62.8846
,
SAR
15.1247
15.4272
,
AED
15.4472
15.7561

gadaa

USD
56.7914
57.9272
,
GBP
67.5127
68.863
,
EUR
60.3636
61.5709
,
AED
13.9945
14.2744
,
SAR
13.7012
13.9752
,
CHF
59.3909
60.5787

hijra

EUR
61.5525
62.7836
,
USD
56.0843
57.206
,
GBP
71.5355
72.9662
,
AED
15.2681
15.5735
,
CAD
41.9322
42.7708
,
SAR
14.9478
15.2468

Ethiopian Insurance Company covers 4.4 trillion birr worth rate of properties 

 

Ethiopian Insurance Company

 

The total insurance coverage of the Ethiopian insurance corporation, which holds the largest market share of the Ethiopian insurance industry, has reached more than 4.4 trillion birr.

The property and services covered by the insurance company’s services across the country are estimated at 4.4 trillion birr, which is an increase of 11.7 percent from the previous year, according to the recently announced 2015 financial year performance report.

Ethiopian Airlines, Ethiopian Railway Corporation infrastructure, the Great Ethiopian Renaissance Dam, and other mega public and private projects were provided insurance coverage by the Ethiopian Insurance Company. The report indicates that the Ethiopian Insurance Company was able to sell and renew a total of 161,315 contracts in the 2015 financial year.

 

Ethiopian Insurance Corporation report in comparison to the previous year

This year’s  performance of Ethiopian Insurance corporation is 31 % lower than the same period of the previous year, it is known that the amount of property and insurance coverage provided has increased.

This report indicates that the Ethiopian Insurance corporation managed to collect 6.9 billion birr in premium income at the end of the completed financial year, which shows that the performance achieved 94.1 percent of the plan.

In his report, the CEO of Ethiopian Insurance corporation, Ato Zildabe Lemesa, mentioned that the amount of premium recorded in the financial year showed an increase of 5.4 percent or 354.8 million birr compared to the previous financial year.

6.7 billion birr or 96.4 percent of the total premiums recorded by the company in the financial year came from the general insurance sector, while the remaining 247.2 million birr, or 3.6 percent was collected from the long-term insurance or life insurance sector.

The company’s annual report indicates that the company’s market share of the total premium of the industry is 30.4 percent.

The CEO pointed out that the performance is good when the premium income is evaluated from the perspective of the plan as well as the previous financial year.

Despite this, Ato Netasnet did not fail to mention that various problems and challenges have affected the company’s premium income.

Among the challenges that made it impossible to increase the premium income to the desired level, mainly mentioned the significant reduction in aviation insurance coverage.

According to Mr. Netsant, Aviation’s insurance coverage decreased by 716.9 million birr from the previous fiscal year, and 714.7 million birr from the plan, which hurt the premium growth.

The main reason why the company’s premium income has decreased in the aviation sector is that the aviation industry has been affected by the global COVID-19 pandemic and other related factors.

According to the CEO’s explanation, the reduction in the premium rate of aviation insurance has caused damage to the company’s performance.

If this challenge did not exist, the company’s premium income and market share would have been much higher than this, the CEO said.

In the 2015 financial year, especially in the aviation insurance coverage, in the explanation given to the reporter regarding the reduction in aviation insurance coverage, he said that the aviation industry had been severely damaged in the previous two years due to the Covid-19 epidemic and as a result, the activity of the sector has been limited, so the insurance companies have reduced the premiums in consideration of this.

Ethiopian Insurance corporation, explained that due to the significant reduction in premiums for the aviation industry,starting from 2014 the premium income he used to get from the sector has come down.

The Ethiopian Insurance corporation also hoped that the premiums it was getting from Ethiopian Airlines would be better due to the increase in the airline’s activity. Regarding next year’s plan of the Ethiopian Insurance Company, Mr. Lisbeth told the reporter, that in terms of premium income collection, it is planned to earn nine billion birr in premium income in the 2016 financial year.

He also stated that this plan was prepared with the assumption that the conflicts in the country would return to peace.

“We think that we can act like a heart everywhere,” said Mr.Nestant, adding that he believes that his plan will succeed as many other reform works will be carried out.