Life premium volume (USD) | 8 mn |
---|---|
Non-life premium volume (USD) | 127 mn |
Total premium volume | 135 mn |
Total premium volume (ETB) | 2 bn |
Insurance penetration: Premiums in % of GDP | 0.45% |
Insurance density: Premium / capita USD | 1.62 |
Local currency | ETB |
Domestic life insurers | |
---|---|
Domestic non-life insurers | 8 |
Domestic composite insurers | 9 |
Foreign life insurers | |
Foreign non-life insurers | |
Foreign composite insurers | |
Domestic reinsurers | |
Foreign reinsurers | |
State-owned insurers | 1 |
State-owned reinsurers | |
Insurance intermediaries | |
Reinsurance intermediaries |
Overarching principle in insurance supervision | Material supervision |
---|---|
Requirement for minimum insurance rates | No |
Cross-border insurance allowed | No |
Bancassurance is allowed | No |
---|---|
Allowed ownership structures | Stock Companies |
Foreign ownership restrictions | No |
Minimum capital requirement | ETB 15mn - ETB 500mn |
Minimum paid-up share capital | ETB 15mn - ETB 500mn |
Requirement for independent audits | Yes |
Requirement to appoint actuaries | Yes |
Premium rate approval needed | Yes |
Solvency referred to as the difference between assets and liabilities | Yes |
---|---|
RBC (Risk-based capital) principles applied | No |
Ceded reinsurance is regarded as a permissible asset | Yes |
Compulsory insurance lines | |
Compulsory reinsurance cessions | No |
Established guarantee or policyholder protection fund | No |
---|