Health Insurance Under Formation Checks Last Boxes

Wass Insurance S.C. aspires to become the first health insurance provider to meet the 100 million Br minimum requirement set by regulators at the central bank which will quadruple after September. With 76.9 million Br paid-up capital, the insurance company under formation had its first-ever general assembly at the Inter Luxury Hotel last week. The promoters implored its 4,659 shareholders to pay up close to 40pc of their subscribed amounts in order to enter the market before the deadline. If granted the license, Wass will become the 19th insurance company. Health insurance policy aims to guarantee health service without immediate cash requirements and affordable prices networking with health institutions across the country. The shareholders mostly comprised health professionals who approved the nomination of nine Board of Directors Abdi Hermilo (MD), Henok Teka, Abejie Kassahun, Gizachew Terga, Samuel Abera, Beza Melaku, Besufikad Soresa, Yonatan Gebere, Dula Merera. Henok Teka who has been leading the steering committee thus far told shareholders that health insurance coverage is far from being met in the country, expressing his desire for Wass to provide access to the middle class.



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