Eritrea: Regular Meeting of the National Insurance Corporation of Eritrea

The National Insurance Corporation of Eritrea held its 19th regular meeting on June 3 at the Asmara Palace Hotel.

Mr. Gebrebrhan Mihreteab, Board Chairman of the Corporation, reported that in 2022 the corporation had registered a growth of 8% and called for reinforced efforts to develop the agricultural project in Shambuko.

In his report, Mr. Paulos Tekleab, acting manager of the corporation, indicated that compared to previous years, the corporation has witnessed fewer accidents. He said the corporation recorded 88.3 million Nakfa in profit from service sales and that group life insurance has increased from 1% in 2018 to 8% in 2022.

The National Insurance Corporation of Eritrea manages an insurance company in South Sudan with minority shareholding, re-insurance shares in Kenya and Nigeria, a share in the animal fodder processing plant in Adi-Sogdo, and engages in other trade activities.

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