Ethiopian Insurance Corporation

Insurance

Strong

state-owned-insurance-corporationRegulator: NBEFounded: 1976Website

5-year performance

Net profit

Source

+18.8%

Overview

About

Ethiopian Insurance Corporation is the state-owned composite insurer established in 1976 by taking over the assets and liabilities of thirteen nationalized private insurance companies. With over 45 years of operating history it is Ethiopia's largest insurer and leads the insurance industry, offering more than 30 types of non-life policies and more than 15 types of life policies through a network of 61 distribution channels. It is licensed and supervised by the National Bank of Ethiopia and held by Ethiopian Investment Holdings.

Revenue grew 22.5% to ETB 10,558.8 million and profit after tax grew 18.8% to ETB 1,597.6 million for the year ended 30 June 2025. Gross written premium reached ETB 13,234.8 million, total assets ETB 24,320.7 million and equity ETB 5,564.5 million.

Source

Revenue · 2017EC

ETB 10.56B

+22.5%

Net profit · 2017EC

ETB 1.6B

+18.8%

Total assets · 2017EC

ETB 24.32B

Source

Total expenses · 2017EC

ETB 8.96B

Latest disclosure

Audited Financial Statements for the Year Ended 30 June 2025

financial-statement

28 Meskerem 2018

View disclosure

Performance

Income statement

Fiscal year	2014EC	2015EC	2016EC	2017EC
Total Revenue	ETB 7.01B	ETB 7.69B	ETB 8.62B	ETB 10.56B
Total Expenses	ETB 5.97B	ETB 6.54B	ETB 7.28B	ETB 8.96B
Net Profit	ETB 1.04B	ETB 1.16B	ETB 1.34B	ETB 1.6B
Insurance Revenue	ETB 6.42B	ETB 6.96B	ETB 7.77B	ETB 9.13B
Insurance Service Expenses	ETB 1.16B	ETB 2.46B	ETB 6.12B	ETB 5.79B
Net Expenses From Reinsurance Contracts	ETB 3.49B	ETB 2.45B	-ETB 1.2B	ETB 292.67M
Insurance Service Result	ETB 1.77B	ETB 2.05B	ETB 2.85B	ETB 3.05B
Finance Income	ETB 381.41M	ETB 463.96M	ETB 600.73M	ETB 776.25M
Investment Income	ETB 50.91M	ETB 84.14M	ETB 69.02M	ETB 193.06M
Net Finance Expenses From Insurance Contracts	ETB 108.16M	ETB 161.58M	ETB 120.72M	ETB 194.7M
Net Finance Income From Reinsurance Contracts	ETB 26.3M	ETB 58.94M	ETB 26.68M	ETB 156.78M
Other Income	ETB 95.98M	ETB 55.49M	ETB 78.09M	ETB 175.6M
Finance Expense	ETB 2.59M	ETB 3.13M	ETB 2.86M	ETB 3.8M
Other Operating Expenses	ETB 928.94M	ETB 1.17B	ETB 1.91B	ETB 2.3B
Share Of Profit Of Associates	ETB 32.44M	ETB 69.78M	ETB 74.83M	ETB 126.93M
Profit Before Tax	ETB 1.32B	ETB 1.44B	ETB 1.67B	ETB 1.98B
Income Tax Expense	ETB 285.16M	ETB 289.11M	ETB 326.29M	ETB 387.29M

Balance sheet

Fiscal year	2014EC	2015EC	2016EC	2017EC
Total Assets	ETB 14.59B	ETB 13.06B	ETB 17.77B	ETB 24.32B
Equity	ETB 2.75B	ETB 3.18B	ETB 3.8B	ETB 5.56B
Total Liabilities	ETB 11.83B	ETB 9.88B	ETB 13.97B	ETB 18.76B
Insurance Contract Liabilities	ETB 8.8B	ETB 7.73B	ETB 11.43B	ETB 14.92B
Reinsurance Contract Assets	ETB 5.3B	ETB 3.66B	ETB 7B	ETB 8.76B
Receivables	ETB 1.53B	ETB 808.99M	ETB 995.55M	ETB 1.54B
Cash And Cash Equivalents	ETB 634.07M	ETB 805.59M	ETB 1.16B	ETB 2.19B

Cash flow

Fiscal year	2014EC	2015EC	2016EC	2017EC
Operating	ETB 1.48B	ETB 1.48B	ETB 1.83B	ETB 3.4B
Investing	-ETB 925.7M	-ETB 753.99M	-ETB 605.53M	-ETB 1.43B
Financing	-ETB 796.26M	-ETB 559.12M	-ETB 871.09M	-ETB 941.01M