Ethiopian Reinsurance recently held its semi-annual strategic planning workshop at the Ellily Hotel in Addis Ababa, attended by all staff and management. This event gathered our leadership team and employees to assess performance in the first half of the 2024/25 fiscal year.
First Half Performance:
- GWP Growth: 41% increase
- Investment Income: Up by 40%
- Profitability: Experienced double growth
- Achieved double-digit growth compared to the previous year.
Key Highlights:
- Leadership: A/CEO Mr. Fikkru Tsegaye chaired the meeting, presenting corporate performance, while department leaders shared their departmental results.
- Engagement: Engaging discussions with employees fostered collaboration and innovation.
- Strategic Review: An ongoing mid-term strategic review aims to inform our long-term vision.
Non-Financial Performance Indicators:
- Purchase of Head Office Building: Significant investment in infrastructure.
- Implementation of IT Project: Enhancing operational efficiency.
- Securing Rating from AM Best: Strengthening our market position.
- Land Received: Acquired from Addis Ababa municipality to diversify investment options.
- Implementation of IFRS 17: Aligning with international financial reporting standards.
- Capacity Building Trainings: Various training sessions provided for staff, including international training opportunities.
- Market Visits Conducted: Engaged in strategic partnerships to expand our reach.
This workshop was a crucial opportunity for our team to align on strategic priorities. The outcomes will be vital for our growth as the leading reinsurance provider in the region.
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