Ethio-Re Marks a Decade of Excellence: 2016–2026
Addis Ababa, Ethiopia | 2026
Ethiopian Reinsurance S.C. (Ethio-Re) proudly celebrates 10 years of operations, marking a decade of growth, innovation, strategic transformation and contribution to the development of Africa’s insurance and reinsurance industry.
Established in 2016 as Ethiopia’s first domestic reinsurer, Ethio-Re commenced operations on 1 July 2016. Over the past decade, the Company has steadily strengthened its financial capacity, expanded into regional markets, diversified its reinsurance solutions and built strategic partnerships across Africa.
A Decade of Milestones
2016 – Establishment
Ethio-Re was established as Ethiopia’s first domestic reinsurer under NBE License RB/01/2016 and commenced operations on 1 July 2016.
2017 – Strategic Foundation
Vision 2027 and the Company’s first Five-Year Strategic Plan were approved, establishing a foundation for sustainable growth.
2018 – Market & Capacity Development
Ethio-Re strengthened engagement with the insurance market through industry consultations, technical training and capacity-building initiatives.
2019 – Regional Expansion
The Company expanded beyond the domestic market, accepting reinsurance business from regional African markets.
2020 – Re-Takaful Launch
Ethio-Re launched its Re-Takaful Window, diversifying its solutions and strengthening its role in the emerging Islamic insurance market.
2021 – Vision 2030
Vision 2030: Take-Off for Ethio-Re was approved, providing a new strategic direction and long-term roadmap for the Company.
2022 – International Recognition
Ethio-Re obtained its first international credit rating from GCR, receiving B- on the International Scale and AA(ET) on the National Scale, with a Stable Outlook.
2023 – Record Growth
The Company achieved strong business growth, with Gross Written Premium increasing by 48%, supported by market consolidation, business expansion and international growth.
2024 – Financial Strength & Sustainability
Ethio-Re achieved an AM Best B (Fair) rating and strengthened its sustainability commitment by becoming a signatory to the Nairobi Declaration on Sustainable Insurance (NDSI), while advancing IFRS 17 implementation.
2025 – Strong Financial & Asset Growth
The Company expanded its asset base through property acquisition in Lideta and recorded Birr 616.7 million in Profit Before Tax and Birr 5.22 billion in total assets.
2026 – A Decade of Excellence
Ethio-Re celebrates 10 years of excellence, marking a decade of growth, innovation, regional expansion and contribution to Africa’s insurance and reinsurance industry.