Nyala Tops All Private Insurers, Again
Nyala Insurance posts a gross profit of ETB184.3 million in the past fiscal year, which is the highest amongst all Ethiopian private insurers. While this is ETB24.7 million higher than the amount registered by the Firm in 2017/18, it netted ETB169.4 million profit during the past fiscal year, which is almost ETB9.4 million higher than what was registered by Awash Insurance in the same period. In the past fiscal year, Nyala written a gross premium of ETB491.6 million, which is ETB277.7 million lower than of 2017/18. Despite such a decline, however, the total income of the Firm showed a 10Pct rise to ETB547 million. Currently, the total assets of Nyala have reached two billion Birr, while the Firm’s paid up capital stands at ETB416.4 million. The company has more than 340 employees.
