1 June 2019

Eritrea: NICE - Share Holder's Annual Meeting

Asmara — The National Insurance Corporation of Eritrea (NICE) held its 15th share holders' annual meeting at the Asmara Palace Hotel on 31 May.

Speaking at the event, the General Manager of the Corporation, Mr. Zeru Woldemicael indicated that in 2018 the corporation has made 96.7 million Nakfa profit and that 87.9 million Nakfa has been disbursed to shareholders.

Expressing appreciation for the interest demonstrated by the share holders and their legal representatives, Mr. Ghirmai Gebremeskel, the Board Chairman of the Corporation, articulated his expectation that the meeting will adopt recommendations and resolution for the better future performance of the Corporation.

At the meeting briefings were provided focusing investment made inside the country and abroad, opportunities and challenges encountered, as well as the progress of life insurance and other relevant issues.

The participants conducted extensive discussion on the report presented and adopted various resolutions and recommendations.

The National Insurance Corporation of Eritrea was established in 1992 and in 2004 sold 44% to shareholders.

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