Ethiopian Reinsurance proudly announces its 9th Annual General Meeting, held at the Hilton Hotel on December 31, 2024!
Strong Financial Results for the 2023/24 Fiscal Year
The company heralds remarkable financial achievements:
- Reinsurance revenue increased by 29% to 2.2 billion Birr.
- Net Reinsurance Result stood at 154.2 million Birr.
- Net Profit soared by 60% to 391 million Birr!
These results reflect Ethiopian Reinsurance’s effective market navigation and unwavering commitment to stakeholder value.
The event also featured a dinner and a cake-cutting ceremony in recognition of the AM Best rating score secured during the year.
AM Best Ratings for 2024
Ethiopian Reinsurance is thrilled to announce its ratings for the year 2024:
- B- Financial Strength
- bb- Credit Issues Rating
- Outlooks: Both Stable
Additionally, the company achieved a Double AA local rating by Global Credit Rating (GCR).