Tsehay Insurance Reports Strong Financial Performance for 2023/2024 Fiscal Year
Tsehay Insurance S.C. demonstrated robust financial growth during the 2023/2024 fiscal year, with gross written premiums (GWP) reaching Birr 1.017 billion. Of this amount, Birr 1.012 billion was generated from general insurance, while Birr 3.7 million was collected from life insurance.
Compared to the previous fiscal year’s general insurance GWP of Birr 924 million, this represents an increase of Birr 88 million or 10%. Similarly, the life insurance segment showed significant improvement, growing by Birr 3.5 million from Birr 205 thousand during the same period of its initial operation.
The company’s profit also experienced notable growth, reaching Birr 173.8 million up from Birr 92.4 million in the previous fiscal year. This success is attributed to effective risk management, strategic product line expansion, and improved service delivery. Tsehay Insurance continues to reinforce its market position as one of Ethiopia’s leading private insurance companies.
