Nyala Insurance S.C. (NISCO) has achieved a premium collection exceeding 3 billion Birr, marking a remarkable 90.3 percent growth compared to the previous fiscal year.
During the 31st General and 24th Extraordinary General Meeting held on December 27, 2025, at the Sheraton Addis, Dr. Sara Surur, Chair of the Board of Directors, presented the company’s annual performance report to shareholders.
Dr. Sara highlighted that NISCO generated over 3 billion Birr from its general, long-term (life), and takaful insurance operations, reflecting a 90.3 percent increase. The general insurance segment contributed approximately 80.7 percent of the total premiums, while long-term and takaful insurance accounted for the remaining 19.3 percent.
She also emphasized the company’s significant achievements in the fiscal year, reporting a gross profit of 782.7 million Birr, an increase from 641 million Birr the previous year.
The chair noted that the company’s total assets have grown to 6.7 billion Birr, representing a 62.2 percent rise from the previous fiscal year. Consequently, shareholders’ total equity at the end of the reviewed fiscal year increased to 2.9 billion Birr, up by 0.7 billion Birr (31.2%) from the prior year.
Additionally, the company’s paid-up capital reached 1.6 billion Birr at the year’s end, an increase from 1.2 billion Birr the previous year, reflecting a growth of 36%, as stated by Dr. Sara.
Yared Mola, CEO of Nyala Insurance S.C. (NISCO), noted that despite intense price-driven competition in the Ethiopian insurance market, NISCO experienced a successful year in 2024/25, underscoring its commitment to quality growth and responsible competition.
“Our balance sheet reflects continued strength and growth, with total assets reaching 6.7 billion Birr, a substantial 47% increase from the previous year. We achieved a total comprehensive income of 806 million Birr, and our gross profit rose to 782.7 million Birr, up 22.2% year-on-year. The Earnings per Share (EPS) stands at 43.41%, while the return on equity (ROE) remains high at 23.3%, and the return on assets (ROA) is at 10.2%, demonstrating effective use of shareholders’ funds and strong business momentum,” he stated.
Yared also expressed pride in NISCO’s role as the insurer for significant national development projects, such as the Koysha Hydropower Dam, showcasing the company’s contribution to Ethiopia’s economic progress.
According to the CEO, NISCO’s strategy, DigLeap, is reshaping customer service. He added, “We are transforming our branches into Customer Experience Hubs (የደንበኞች ቤት), where convenience, responsiveness, and personalized service are at the core of our interactions. This approach places our customers at the center of every engagement and strengthens NISCO’s brand as a trusted partner.”
The CEO emphasized that Nyala Insurance is accelerating its digital transformation, nurturing emerging talent, and enhancing professionalism to build the future workforce of the company.
“Our rebranding initiative will further enhance our market presence, modernizing our identity, improving customer experience, and reinforcing the trust we have built over the years. Our goal is to position NISCO as Ethiopia’s most trusted and customer-centric insurer, a company that not only overcomes market challenges but also grows stronger and extends its influence beyond our borders,” Yared added.
During the 24th extraordinary meeting, shareholders unanimously approved a capital increase from 1.2 billion Birr to 1.6 billion Birr to enhance the company’s competitiveness.
Founded in 1995 with a paid-up and subscribed capital of 7 million Birr and 25 million Birr, respectively, Nyala Insurance S.C. is a robust and innovative financial institution that offers customer-tailored products and services, including microinsurance, mobile insurance, and diaspora insurance.
Nyala Insurance S.C. is currently finalizing a rebranding initiative aimed at modernizing its operations and enhancing customer service.
