Reinsurance News
22nd April 2025
Author: Kassandra Jimenez-Sanchez –
Ethiopian Reinsurance (Ethio Re) has announced the appointment of Netsanet Lemesa as Chief Executive Officer (CEO), succeeding Fikru Tsegaye Wordofa, Executive Officer, Strategy and Development, who had been serving as Acting CEO.
Lemesa brings a wealth of experience to the role, boasting over 23 years in the professional sector, including a successful tenure as the CEO of the Ethiopian Insurance Corporation (EIC), a key shareholder in the reinsurer.
In a statement released by the company, Ethio Re expressed strong confidence in the new leadership: “Mr. Lemesa brings extensive experience and a strong history of success to this key role. We are confident that his leadership will be invaluable in driving Ethiopian Reinsurance towards continued growth and achieving new milestones within the reinsurance industry.”
Upon his appointment, Lemesa acknowledged the great service of Acting CEO Ato Fikru Tsigaye, expressing gratitude for his leadership and dedication during the transition.
During his address to the staff, Lemesa emphasised his commitment to driving innovation across operations, strengthening strategic partnerships and fostering a collaborative and growth-oriented work culture.
Addressing Ethio Re staff, the executive highlighted the importance of teamwork and a shared vision in advancing Ethio Re’s strategic goals and enhancing its position within Ethiopia’s burgeoning reinsurance market.
Commenting on Lemesa’s appointment, Tsigaye stated: “We are delighted to welcome Netsanet Lemesa as our new CEO. With his visionary leadership and our collective commitment to excellence, we look forward to achieving new milestones together.”
The appointment comes on the heels of a strong financial performance by Ethio Re in the 2023/24 fiscal year.
