Hibret Insurance Celebrates 30 Years with Soaring Profits


Hibret Insurance Celebrates 30 Years with Soaring Profits

Hibret Insurance reported a gross written premium of 1.96 billion Br for the fiscal year, a 23.72pc increase from the previous period. Established in 1994 and celebrating 30 years of operations, the insurer pointed to a growth in customers and expansion of its market share. Hibret also saw its underwriting (operational) profit reach 635.3 million Br, a 46.59pc increase, indicating effective policy pricing and risk management, even though consolidated net claims incurred increased by almost 50pc to reach 693.3 million Br. The insurer, in line with the industry, dealt majorly in motor insurance, accounting for 63.1pc of its portfolio. Earnings per share (EPS) reached 527,290 Br, exhibiting a 10pc increase from the previous year. Hibret increased its paid-up capital to one billion Birr, double the Central Bank’s minimum threshold, while its profit came in at 519.72 million Br, up by 59pc from last year’s 327.02 million.

[ssba-buttons]

Radar

Milkii App Disburses 25 Million Br in Collateral-Free Loans in Two Months

Oromia Bank's new collateral-free digital lending app, Milkii, has disbursed 25 million Br in loans without requiring collateral. Of this, 16 million Br has already been repaid, generating 1.4 million Br in revenue within just two months. Developed in partnership with Quantum Technology PLC, the app plans to make lending more accessible and inclusive, aligning with Oromia Bank's contribution to the Digital Ethiopia initiative. According to a press release, Milkii promotes financial inclusi...


Radar

Ethiopia Partners with UK to Ease Shipping Bottlenecks

The Ethiopian Freight Forwarders & Shipping Agents Association (EFFSAA) and the British International Freight Association (BIFA) signed a memorandum of understanding (MoU) on May 27, 2025, at Hyatt Regency Addis Abeba, to address skills gaps, customs delays, and corridor inefficiencies in the freight and logistics sector. The partnership focuses on technical cooperation, training, and regulatory reform. With over 90pc of trade dependent on the Djibouti corridor, rising congestion, customs...


Radar

Education Authority Sanctions Mishqen College for Rule Violations

The Education & Training Authority has issued a decisive directive last week, mandating legal action against Mishqen College for persistently defying regulatory orders and unlawfully continuing to offer higher education services. Mishqen College had previously been licensed to conduct undergraduate distance learning programs across multiple regions from 2019 to 2022. However, after serious regulatory breaches, the institution was ordered to cease all instruction, complete pending academic...