Addis Ababa | November 11, 2025: The Association of Ethiopian Insurers, in collaboration with FSD Ethiopia and FSD Africa under the Risk, Resilience and Regulatory Lab (R3Lab) initiative, and facilitated by Cenfri, hosted a two-day insuranceindustry workshop in Addis Ababa. The event brought together insurers, regulators, development partners, and innovators to discuss sector performance, regulatory reforms, and actionable steps to expand insurance access in Ethiopia. 

FSD Ethiopia CEO Hikmet Abdella highlighted the sector’s performance, noting that gross written premiums across general and life insurance rose nearly 50 percent in 2024/25. General insurance premiums increased 48.6 percent to 38.7 billion birr, and life insurance premiums rose 46.2 percent to 2.7 billion birr. Despite this growth, insurance penetration remains below one percent of GDP, leaving millions of farmers, families, and small businesses exposed to risks that insurance could mitigate. 

Hikmet Abdella said:
“The Ethiopian insurance market has seen remarkable growth and that is a reflection of rising economic activity, broader asset coverage, and premium adjustments, as well as a gradual modernization of the regulatory framework. Yet, penetration remains low, and millions of Ethiopians—farmers, families, and small businesses—remain exposed to risks that insurance could mitigate. Our gathering today is a response to that challenge. It is not just about acknowledging the gap, but about bridging it. This workshop, co-designed with the Association of Ethiopian Insurers, FSD Africa, Cenfri, and industry leaders, is a platform for practical action, combining strategic vision with operational insight.”

Yared Mola, President of the Association of Ethiopian Insurers, noted: 

“We are meeting today at a defining moment for Ethiopia’s insurance sector. Around the world, insurance has proven to be a cornerstone of economic resilience and a key pillar of inclusive development. Yet here at home, our industry continues to face significant and long-standing challenges that demand reflection and collective action.” 

Elias Omondi, Principal for Innovation for Resilience at FSD Africa, emphasized: 

“Insurance penetration in Ethiopia remains below one percent, highlighting both the challenge and the opportunity. Today’s discussions aim to align insurers, regulators, and partners on actionable steps to grow the market, strengthen governance, and expand inclusive coverage.”

The workshop, opened by Solomon Desta, Vice Governor of the National Bank of Ethiopia, addressed ongoing reforms by the National Bank of Ethiopia, including risk-based capital frameworks, enhanced technical provisions, and plans for an independent insurance regulator. Participants explored opportunities for product innovation, insurtech adoption, and strategies to strengthen market resilience. 

Designed to combine strategic insight and technical depth, the event included  presentations, hands-on exercises, and interactive discussions, aiming to produce actionable measures for expanding coverage and improving the sector’s sustainability.

The half-day workshop was livestreamed on FSD Ethiopia’s YouTube channel and LinkedIn, ensuring access for participants unable to attend in person.