Insurance Companies in Ethiopia | Web & Contacts Directory/Listing

Africa Insurance Company (AIC) is a privately owned professional Insurance Company established in 1994 in accordance with the Licensing and Supervision of Insurance Business Proclamation No.86/1994, and the Commercial Code of Ethiopia.The Company is set up with fully paid up capital of 30 million Ethiopian Birr. The capital is divided into 30,000 ordinary shares, each with a par value of 1000 Ethiopian Birr. The capital base AIC utilises makes it the strongest private Insurance Company in the Country.

Awash Insurance Company S.C. is one of the first few pioneer private insurance companies in Ethiopia launched following the liberalization of the financial sector in 1994. Founded on a solid base and uniquely on a cross-sectional composition, AIC is progressing in renewing its commitment to excellence. We always work for the maximum satisfaction of the customers who rely on us and who have put their confidence in our Company

Ethiopian Insurance Corporation (EIC) was established in 1976 by proclamation No.68/1975. The Corporation came into existence by taking over all the assets and liabilities of the thirteen nationalized private insurance companies, with Birr 11 million (USD 1.29 million) paid up capital aiming the following objectives. Engage in all classes of insurance business in Ethiopia, Ensure the insurance services reach the broad mass of the people.

Global Insurance Company (GIC) was established in 1997 by 23 founding members at an initial paid up capital of 3.75 million Ethiopian Birr in a small office in the old airport area and one contact office in Arada Sub City.In June 2010 GIC had paid up capital of 20 million Ethiopian Birr from 135 shareholders. It is now operating in 12 branches of which 7 are in Addis Ababa. The company has 131 employees.

NICE is a wholly privately owned company, The First Private Insurance Company established in post – 1994 Ethiopia, to engage in general insurance business. Its Head office is in Addis Ababa ,Ethiopia and operates through 29 Branch offices and 4 licensed Contact offices located in Addis Abeba and different parts of the country. It started business transaction in October 1994.

Nile Insurance Company S.C was established on 11th of April 1995 with a subscribed capital of Birr 12 million and currently the capital of the Company is raised to Birr 100 million. It is a legal entity registered with the licensing and supervising body of the National Bank of Ethiopia in accordance with Proclamation No. 86/1994 and licenses No 006/95. It is one of the first private insurance companies entering into the industry serving more than 18 years with diligent and professional experience committing itself to excellence.

Nyala Insurance Share Company (NISCO) was founded in July 1995 following the liberalization of the insurance business to the private sector in 1994 with the Licensing and Supervision of Insurance Business Proclamation No. 85/1994. Over the years Nyala Insurance become one of the leading private insurance companies in Ethiopia

Oromia Insurance Company S.C is a profit making share company established and licensed by the National Bank of Ethiopia to carry on general Insurance business on 26 January 2009, now OIC transacts all classes of insurance: Non-life Insurance, Life Insurance and Micro Insurance. It commenced operation on 9 February 2009.

The United Insurance Company SC, better known as UNIC-ETHIOPIA, was established by 87 Ethiopians (individuals and enterprises) in November 1994 with an authorized capital of Br 25 million and an initial paid up capital of Br 8.073 million. Following the merger with Lion Insurance Company SC in 2002, UNIC-ETHIOPIA, is currently owned by more than 318 shareholders. As a result of the merger and the decision of the Seven Extra-Ordinary General Meeting of shareholders, the Company’s authorized capital rose to Br 250 million. The paid up Capital is now Br 175 million. UNIC-ETHIOPIA aims to be the best insurance company in Ethiopia, most professional, most commercial, and most responsible by Providing complete insurance cover at economic rates, honest, prompt, and courteous claims services, to fully satisfy all its constituencies: Customers, Shareholders, Employees, Society and the Environment.