Awash Insurance S.C. Registers Historic Gross Written Premium of Over ETB 4.5 Billion

Awash Insurance S.C. has registered a record Gross Written Premium (GWP) exceeding ETB 4.5 billion for the 2024/25 fiscal year, reflecting a 44% year-on-year growth, underpinned by strong underwriting discipline, expanded distribution channels, and enhanced customer retention initiatives, the company said in an official statement.

In the Life Assurance segment, Awash Insurance generated over ETB 656 million, posting an impressive 48% increase compared to the previous year. Plus, through its Sharia-compliant Takaful window—Salaam Takaful, the company mobilized over ETB 150 million in contributions, realizing an 120% growth rate.

Taken together, Awash Insurance achieved a consolidated premium growth of 46% across all business lines. This historic performance showcases Awash Insurance’s ability to generate strong and diversified premium growth across its core portfolios.

The Board of Directors praised these remarkable achievements and highlighted the impressive results attained despite numerous challenges. Tadese Gemeda, the chairman of the Board, acknowledged the company’s exceptional performance across all business lines. He congratulated the employees and management, expressing his gratitude to the board, management, staff, and stakeholders for their invaluable contributions.