Ethiopian Reinsurance’s Board of Directors Appoint New Chairperson

ADDIS ABABA – The Board of Directors of Ethiopian Reinsurance S.C (Ethio-Re) has appointed Meseret Bezabih as Chairperson of the Board of Directors.

The appointment came weeks after the National Bank of Ethiopia (NBE) approved eight new members of Board of Directors of Ethio-Re, the first reinsurance company in Ethiopia.

The newly approved directors are Hailemariam Assefa, Eyuel Ewnetu, Meseret Bezabi, Jibat Alemnheh and Kelbessa Kera.

Netsanet Lemessa, representing Ethiopian Insurance Corporation; Kassahun Begshaw, representing Africa Insurance SC; and Zufan Abebe Alemu, representing Nib Insurance SC are also among the approved directors.

Last Wednesday, the newly formed board of directors met to appoint a new chairperson and vice-chairperson of the board as per the Directive of the NBE.

The board of directors “were resolved to appoint Meseret Bezabih as Chairperson, ” said the reinsurance firm. Meseret is currently serving as CEO of United Insurance SC, a private insurance company.

The Board of directors have also selected Netsanet Lemessa as vice chairperson, it added.

“Ethio-Re is delighted to announce the appointment of both figures and very excited that they have accepted the responsibility endowed upon them,” said the re-insurance company.

Ethio-re was established in 2016 with major state-owned and private financial institutions as stakeholders.

The Global Credit Rating (GCR) affirmed Ethio-Re initial international and national scale financial strength ratings of B- and AA (ET), respectively with a stable outlook, in December, 2021.