Overview
Oromia Insurance Company S.C. is a private composite insurer licensed and supervised by the National Bank of Ethiopia, offering general, life and health, agricultural microinsurance, and Takaful products.
Revenue grew 76.3% to ETB 2,796.6 million and net profit rose 24.9% to ETB 588.0 million; total assets reached ETB 5,660.4 million.
SourceETB 2.8B
ETB 587.96M
ETB 5.66B
SourceETB 1.98B
Performance
Income statement
| Fiscal year | 2016EC | 2017EC |
|---|---|---|
| Total Revenue | ETB 1.59B | ETB 2.8B |
| Total Expenses | ETB 983.11M | ETB 1.98B |
| Net Profit | ETB 470.82M | ETB 587.96M |
| Net Earned Premiums | ETB 1.16B | — |
| Fee And Commission Income | ETB 224.59M | — |
| Investment Income | ETB 181.12M | ETB 194.02M |
| Other Income | ETB 21.81M | ETB 199.11M |
| Net Benefits And Claims | ETB 480.54M | — |
| Underwriting Expenses | ETB 84.59M | — |
| Other Operating Expenses | ETB 176.01M | ETB 344.77M |
| Employee Benefits | ETB 241.98M | — |
| Profit Before Tax | ETB 603.36M | ETB 817.19M |
| Income Tax Expense | ETB 132.55M | ETB 229.23M |
| Insurance Revenue | — | ETB 2.4B |
| Insurance Service Expenses | — | ETB 1.15B |
| Net Reinsurance Expenses | — | ETB 507.55M |
| Takaful Participants Fund | — | -ETB 20M |
Balance sheet
| Fiscal year | 2016EC | 2017EC |
|---|---|---|
| Total Assets | ETB 4.99B | ETB 5.66B |
| Equity | ETB 1.84B | ETB 2.48B |
| Insurance Contract Liabilities | ETB 1.98B | ETB 2.35B |
Financial health
Return on equity (ROE)
23.7%
Return on assets (ROA)
10.4%
Capital adequacy ratio (CAR)
—
Non-performing loans (NPL)
—
Cost-to-income
—
Liquidity ratio
—
Insurance Revenue
ETB 2.4B
Technical Reserves
ETB 2.35B
Investment Income
ETB 194.02M
Competitors
Peer institutions in the same sector, latest fiscal year.
Awash Insurance S.C.
private-insurance-company
Net profit · 2018EC
ETB 1.4B
Ethiopian Insurance Corporation
state-owned-insurance-corporation
Net profit · 2017EC
ETB 1.6B
Lion Insurance Company S.C.
private-insurance-company
Net profit · 2017EC
ETB 336.66M
Nib Insurance Company (S.Co)
private-insurance-company
Net profit · 2017EC
ETB 344.01M
Nyala Insurance S.C.
private-insurance-company
Net profit · 2017EC
ETB 680.38M