Hibret Insurance Posts 37% Profit Growth as Gross Premiums Reach 3.4bn Birr

October 30, 2026 | By Semahegn Nigatu

Hibret Insurance S.C. reported a 36.98 percent increase in pre-tax profit to 1.38 billion birr in the 2025/26 financial year, as gross premiums rose by 24.18 percent to 3.42 billion birr, according to figures presented at its annual general meeting.

The insurer generated 3.42 billion birr in gross premiums from its life, non-life and general takaful businesses in the financial year ended June 30, 2026, compared with the previous financial year. Its pre-tax profit reached 1.38 billion birr, up from the previous year's level.

The results were disclosed at the company's 32nd annual ordinary and 16th extraordinary general meetings held on October 29, 2026, at Skylight Hotel in Addis Ababa.

Wondwossen Teshome, chairman of Hibret Insurance's board of directors, said the company had recorded positive financial and operational results despite challenges facing the insurance industry during the reporting period. He attributed the performance to the combined efforts of the board, management and employees.

The meeting also highlighted the company's entry into Ethiopia's emerging capital market. On June 29, 2026, the Ethiopian Capital Market Authority approved Hibret Insurance's securities registration statement, making it the first insurance company to secure such approval under the country's capital market regulatory framework.

The approval marks a step towards the insurer's participation in the regulated securities market, although the statement did not specify the details of a planned share offering or the timeline for trading.

Hibret Insurance's approval comes as Ethiopia's capital market develops following the establishment of the Ethiopian Securities Exchange and the introduction of a regulatory framework for securities issuance and trading. The entry of insurance companies into the market could also expand the range of institutions participating in the country's developing financial system.

The board chairman thanked shareholders, customers, management and employees for their contributions to the company's performance during the year.

Source: FSX Business News