Establishment of a local reinsurance company in Ethiopia
Ethiopia's central bank announced in early April the creation of a reinsurance company which will reduce the outflow of currency for the benefit of international reinsurers.
Nearly 30% of annual premiums posted by local insurers are dedicated to the payment of services offered by reinsurers. The company, which will be endowed with a capital of 25.76 million USD, will be operating in life and nonlife insurance.
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Tue, 03/06/2014 - 08:55
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