Overview
Nib Insurance Company (S.Co) is a private composite insurer licensed and supervised by the National Bank of Ethiopia, offering general (non-life) and long-term (life) insurance.
Revenue grew 46.3% to ETB 1,744.2 million and net profit rose 19.6% to ETB 344.0 million; total assets reached ETB 4,057.6 million.
SourceETB 1.74B
ETB 344.01M
ETB 4.06B
SourceETB 1.29B
Performance
Income statement
| Fiscal year | 2016EC | 2017EC |
|---|---|---|
| Total Revenue | ETB 1.19B | ETB 1.74B |
| Total Expenses | ETB 821.36M | ETB 1.29B |
| Net Profit | ETB 287.66M | ETB 344.01M |
| Net Earned Premiums | ETB 884.85M | — |
| Fee And Commission Income | ETB 117.33M | — |
| Investment Income | ETB 190.27M | ETB 200.33M |
| Net Benefits And Claims | ETB 437.27M | — |
| Underwriting Expenses | ETB 101.62M | — |
| Other Operating Expenses | ETB 130.76M | ETB 81.94M |
| Employee Benefits | ETB 151.71M | — |
| Profit Before Tax | ETB 371.1M | ETB 457.87M |
| Income Tax Expense | ETB 83.44M | ETB 113.86M |
| Insurance Revenue | — | ETB 1.5B |
| Other Income | — | ETB 40.57M |
| Insurance Service Expenses | — | ETB 892.16M |
| Net Reinsurance Expenses | — | ETB 312.26M |
Balance sheet
| Fiscal year | 2016EC | 2017EC |
|---|---|---|
| Total Assets | ETB 3.76B | ETB 4.06B |
| Equity | ETB 1.34B | ETB 1.68B |
| Insurance Contract Liabilities | ETB 1.45B | ETB 1.8B |
Financial health
Return on equity (ROE)
20.5%
Return on assets (ROA)
8.5%
Capital adequacy ratio (CAR)
—
Non-performing loans (NPL)
—
Cost-to-income
—
Liquidity ratio
—
Insurance Revenue
ETB 1.5B
Technical Reserves
ETB 1.8B
Investment Income
ETB 200.33M
Competitors
Peer institutions in the same sector, latest fiscal year.
Awash Insurance S.C.
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Net profit · 2018EC
ETB 1.4B
Ethiopian Insurance Corporation
state-owned-insurance-corporation
Net profit · 2017EC
ETB 1.6B
Lion Insurance Company S.C.
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Net profit · 2017EC
ETB 336.66M
Nyala Insurance S.C.
private-insurance-company
Net profit · 2017EC
ETB 680.38M
Oromia Insurance Company S.C.
private-insurance-company
Net profit · 2017EC
ETB 587.96M