May be the market share is decreasing due to the establishment of new private insurance companies?
Yes, we were taking 100 percent from 1976 up to 1994. Previously, it was centrally planned economy in socialist state and everything was different, one company with no competition. But since 1994, the market has been liberalized. We are now following the free market economic system as a result there are 8 privately owned insurance companies at present. Actually there were 9 and one has gone out of the business due to its own problems. So, these companies have been taking part of our business. They have been competing with us not only by taking part of our market but also our experienced staff. Since there was no source for trained insurance personnel except for us, they are taking our trained staffs. But still we are able to retain more than 50 percent of the market share. The combined market share of the eight private companies does not exceed 43 percent. We have a very huge capital base. It is estimated at about half a billion Birr. We have 5 big buildings in Addis and about 10 in th
