2 June 2018

Eritrea: NICE - Share Holders' Annual Meeting

Asmara — The National Insurance Corporation of Eritrea (NICE) held its 14th regular meeting of shareholders at the Hotel Asmara Palace on 2 June.

The Board Chairman of the Corporation, Mr. Girmai Gebremeskel indicated that the board as the highest body of the corporation has been conducting annual meeting since 2004 and adopting resolutions based on the agendas presented.

Mr. Zeru Woldemichael, General Manager of the Corporation, indicated that in 2017 an estimated of 43.4 million Nakfa worth of accidents have occurred and that witnessed the decline by 25% compared to that of 2016.

The General Manager further pointed out that the Corporation in 2017 has made 91.8 million Nakfa profit from the total insurance sales and that the board has decided for the distribution of 83.8 million Nakfa to shareholders.

The participants conducted extensive discussion on the report presented by the General Manager and on the issues raised at the 13th annual meeting as well as on the charted out future program.

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