Stellar Year for Nile Insurance with Its Assets Booming
Nile Insurance's financial year concluded on a high note, posting an impressive performance, with premium collections exceeding industry averages and delivering substantial returns to its shareholders.
The firm posted a 51pc surge in net profit, reaching 298.3 million Br, positioning itself firmly between its peers: United and Nyala insurance companies. Under the managment of Nigus Anteneh, its chief executive officer (CEO), the firm attributed its success to soaring premium revenues, headed claim expenses, and robust investment income. Despite facing inflation-driven claim costs and fierce...