The 23rd annual Management meeting of the Ethiopian Insurance Corporation took place on 28th and 29th August, 2009 in the corporation’s auditorium.
 
Ato Getachew Adem, member, board of Management of the Ethiopian Insurance Corporation in his  opening speech congratulated the management and employee of the corporation on the better result registered in 2008/2009 fiscal year.

In his opening speech, Ato Getachew underscored that implementing the Business Process Reengineering, BPR in the proposed time schedule is above all, the responsibility of the Management members.

Ato Getachew Yisma, A/managing Director of the Ethiopian Insurance Corporation presented the 2008/2009 fiscal year corporate report.

In his report Ato Getachew announced that the Corporation has secured a profit of birr 93.5 million before tax from operational and investment activities during the budget year.

The corporation has also registered a premium income of birr 637.2 million from selling and renewing of policies. The total sum insured in the budget year has reached birr 245 billion.

Claims incurred for different accidents occurred on property and life of customers remains birr 262.1 million which is birr 7.9 million or 2.9% less than the allocated budget.

The amount registered from underwriting result is birr 101.8 million. With regard to investment, birr 129.2 million has been invested in various investment sectors. The corporation has also got a dividend of birr 3.9 million from its shares in AFREXIM BANK, UNIVERSAL INVESTORS, AFRICA REINSURANCE and MOEANCO. In relation to investment, birr 10 million rental income has been collected from buildings in Addis Ababa and different regions.

The meeting was attended by members of board of Management, 160 management members of the Ethiopian Insurance Corporation and leaders of the Ethiopian Insurance Corporation Labor union.