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ETHIOPIAN INSURANCE CORPORATION EIC SECURES BIRR 946.3 MILLION PROFIT BEFORE TAX
2018-10-11

EIC has registered Birr 946.3 Million profit before tax in 2017/18 fiscal year. The announcement was declared by Mr. Netsanet Lemessa, Chief Executive Officer CEO of the corporation at the 32nd Annual General Management meeting which was being held from 24th - 25th august 2018 at Hilton Addis Hotel. On the occasion, members from Board of Management as well as Management at various levels have attended.

His Excellency Ato Daba Debele delivering opening speech

 


 

 

 

 

 

 

 

 

 

His Excellency Ato Daba Debele delivering opening speech

His Excellency, Ato Daba Debele, member of EIC%u2019s Board of Management delivered a well come speech to participants and congratulating the management and employees of EIC for the successful result already registered in the period under review. His Excellency also said that EIC need to continue in ensuring its development partner to the govement as well as the large public in one way or another. His Excellency, on his closing speech, stressed that the Corporation should give due attention for proper implementation of Balanced Score Card as well as improving the performance of long term insurance business in the upcoming period.

Mr. Netsanet Lemessa Presenting Corporate Performance Report

 

 

 

 

 

 

 

 

 

 

 

Mr. Netsanet Lemessa Presenting Corporate Performance Report

On the other hand, Mr. Netsanet Lemessa, Chief Executive Officer of Ethiopian Insurance Corporation, also presented the corporate performance report for period under discussion. As per his report, the Corporation has realized a profit of Birr 946 million before tax, surpassing last year%u2019s same period performance by 36 percent. The corporation has able to underwrite a gross premium of Birr 2.97 Billion for risks property, life & liability that worth Birr 2.2 Trillion. Moreover, performance report of different work units and detailed discussion on the existing challenges and the way forward has been conducted for two consecutive days.

Finally, the meeting has been concluded by reaching collective consensus to take the lessen from the challenges experienced earlier and to exert utmost effort in the upcoming budget year for the realization of corporate objectives set in its strategic plan.


Source :
Integrated communication team

   


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