Ethiopian Re-insurance Share Company (Ethio Re) is seeking a strategic capital adjustment to support its next growth phase as it marks a decade of operations. CEO Netsanet Lemessa said the company’s capital has quadrupled over the past ten years but has declined in foreign currency value. Established in 2016 as the country’s first indigenous reinsurer, Ethio Re has retained more than 90 million dollars in foreign exchange for the economy. Its assets have grown from 82 million Br to 5.3 billion Br, while gross written premiums reached four billion birr. The company reported a pre-tax profit of 617 million Br in its latest financial year and plans to expand across Africa, improve international ratings, modernise operations, and pursue a potential capital market listing by 2030.

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