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Amazing expression by Megabi Hdis Eshetu

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Positioned among the best three insurance agencies two years back, Africa Insurance Company enrolled just the second misfortune in its 25-year presence. 

 

The organization enrolled lost 2.8 million Br, an uncommon tumble from the 59.1 million Br benefit it made the former year. The misfortune converted into a colossal fall in profit per share that dropped to 16 Br from 334 Br. The organization has 306 investors, of which 85pc of them are its workers. 

 

A year ago's misfortune is the second for Africa, which lost 400,557 Br just because, thinking back to the 2004/05 financial year. 

 

The monstrous cases the organization paid out, eminently in the engine protection segment, caused the misfortune, as indicated by Kirov Janie, the overseeing chief of Africa Insurance, which was first settled in 1994 with an underlying settled up capital of 30 million Br. 

 

In the announced period, the organization paid out 471.2 million Br in claims, an 18.9pc increment from the former year.

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