Zemen Insurance announced at its 6th regular general meeting of shareholders that it achieved a substantial growth in premium income over the past fiscal year.

The company reported collecting Birr 545.3 million in premium income, marking a 67.5 percent increase compared to the previous year.

During the same period, the company paid out Birr 103.3 million in compensation, with vehicle warranty claims accounting for the largest portion of payouts. Zemen Insurance also generated Birr 166.2 million from insurance contract work.

The company recorded a pre-tax profit of Birr 181.3 million for the fiscal year, and 74 percent of this profit was distributed as dividends.

Having completed four years since its establishment, Zemen Insurance now holds total assets worth Birr 961.5 million, with its paid-up capital reaching Birr 234.2 million.

Source: Sheger FM 102.1