The company's insurance service revenue rose by 13.8%, from Rwf19.6 billion in 2023 to Rwf22.3 billion in 2024, highlighting robust business expansion and growing market confidence.
According to its annual financial report, Prime Insurance recorded pre-tax earnings of Rwf6.2 billion and contributed Rwf1.8 billion in taxes, underlining its growing contribution to Rwanda's economic development.
This strong performance stands out in an industry that collectively posted Rwf15 billion in profit after tax for the year. Prime Insurance paid Rwf6 billion in claims a testament to the company's solid commitment to meeting policyholder obligations.
In just three years since entering the medical insurance segment, Prime Insurance has emerged as Rwanda's fourth-largest provider, underscoring its agility and competitive edge in new markets.
Reflecting its strong financial footing, the Board of Directors has approved a dividend payout of Rwf500 million to shareholders a notable development and a testament to the company's leading position in the sector and its strong performance.
The company's total assets also saw a substantial rise, growing from Rwf30 billion in 2023 to Rwf38 billion in 2024. This Rwf8 billion increase further reinforces Prime Insurance's sustained financial strength and market leadership.
With these record-breaking results, Prime Insurance continues to redefine excellence in Rwanda's insurance industry, solidifying its dominance in general insurance while rapidly scaling up in the medical insurance space.
IGIHE
