The National Insurance Corporation of Eritrea (NICE) conducted its annual shareholders meeting today, 6 June, at Asmara Palace.
Mr. Paulos Tekleab, Acting Manager of the Corporation, indicated that the Corporation generated 321 million Nakfa in revenue from general insurance services in 2025. He went on to say that out of the 91 million Nakfa profit registered, 83 million Nakfa has been disbursed as dividends to shareholders.
Noting that, as a result of sustainable awareness-raising activities, public understanding of insurance is increasing from time to time, Mr. Paulos said that, compared to 2024, group life insurance increased by 16%, raising its contribution to the Corporation’s revenue from 10 to 11%.
Mr. Gebrebrhan Mihreteab, Chairman of the Board of Directors, emphasized that, with minimum payments, the Corporation protects citizens and institutions from losses caused by accidents beyond their control and, as a result, helps them feel secure. He went on to say that insurance facilitates trade, encourages saving and investment, protects families from becoming dependent due to the death of breadwinners, and boosts Government income in the form of taxes and other contributions.
Mr. Gebrebrhan also expressed expectation that the shareholders would conduct extensive discussion and come out with resolutions.
The participants, on their part, conducted extensive discussion on the report presented and adopted various recommendations, including strengthening awareness-raising activities targeting the public with a view to reducing accidents, identifying untapped sectors and investing in them, and conducting proper assessment of the progress of projects run by the Corporation.
They also adopted a six-point resolution, including the payment of 83 million Nakfa in dividends to shareholders, amounting to about 8 Nakfa per share.
Distributed by APO Group on behalf of Ministry of Information, Eritrea.
