The value of claims, in Birr, the state-owned Ethiopian Insurance Corporation (EIC), paid in the financial year 2024/25, 138pc higher than the previous year, from a gross premium of 13.3 billion Br. In the global insurance industry, a doubling of claims normally erodes profitability. EIC’s ability to raise premiums and expand coverage fast enough to offset the spike in claims is, therefore, unusual.
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