Today their part in metropolitan zones is declining, however, in the day-by-day life of country networks, they actually hold a position of significance.
In 1923, the Swiss safety net provider Balois set up a branch office in Addis Ababa and was before long followed by different other unfamiliar organizations going about as specialists.
Strangely, in 1960 the base capital necessary to begin an Ethiopian insurance agency was a simple 12,500 Ethiopian dollars.
Current and the Best Ethiopian Insurance Companies 2021
In 1991, the socialist government was ousted and by 1994 another financial and banking Proclamation No. 83/1994 was given to administer banks and insurance agencies in Ethiopia, yet just permitting homegrown Ethiopian safety net providers.
Microfinance banks and insurance agencies are likewise permitted to give miniature protection administrations to low-pay residents.
This low degree of protection infiltration is caused somewhat because of the low degree of protection utilization by Ethiopians and furthermore because of the absence of comprehension by the policymakers and the overall population.
We arranged the accompanying rundown of 16 of the best insurance agencies in Ethiopia with every one of their subtleties to help you track down the correct data.
1. national Insurance Company of Ethiopia (NICE)
best-insurance agency in-Ethiopia-public insurance agency Ethiopia-decent
Decent, which began in the protection business in October 1994, is the first entirely exclusive insurance agency, set up in post-1994 Ethiopia.
The approved capital of the organization is 100,000,000 ETB or 10000 portions of 1000 ETB standard worth each.
Public Insurance Company's Services
Fire and Allied Perils
Noteworthy Loss
Householders, Comprehensive
Laborers' Compensation
Loyalty Guarantee
Individual and Group Personal Accident
Public Liability
Cash
Reinforced Glass
All Risks
Bonds
Designing
Transporter Liability
Crisis Travel Medical
Robbery
Contact
Principle Office Address: Debre Zeit Road ZEFCO Building Kirkos sub-city K.05/06/07 H.No 894, Addis Ababa, Ethiopia
Phone/Mobile: +251 11 4 66 1129
Fax: +251 11 465 0660
P.O.Box: 12645 Addis Ababa, Ethiopia
Email: info@niceinsurance-et.com
Official Website: https://niceinsurance-et.com/
2. Nile Insurance Company Share Company (NICSC)
best insurance agency in Ethiopia Nile insurance agency
Nile Insurance Company is one of the pioneer private insurance agencies in Ethiopia which was set up in April 1995 with a capital of 12.5 million ETB.
The all-out resources of Nile Insurance Company have ascended from 734 million ETB to 1.24 billion ETB.
Nile Insurance Company's Services
Designing
Bond
Payload Insurance (Land, Sea, and Air)
Fire Insurance
Individual Accident Insurance
Workers Compensation Insurance
Public Liability Insurance
Thievery and Housebreaking Insurance
Important Loss Insurance
Devotion Guarantee Insurance
All Risks Insurance
Cash Insurance
Reinforced Glass Insurance
Gathering Yearly Renewable Term
Gathering Level Term
Gathering Endowment (with or without benefit support
Singular Level Term
Singular Endowment (with or without benefit support)
Singular Whole Life (with or without benefit cooperation)
Home loan Redemption Insurance Product
Valuable Accident Riders
• Accidental Death Benefit (ADB)
• Accidental Death and Dismemberment Benefit (AD and DB)
• Accidental Death, Dismemberment and Income Benefit (DDI)
• Accidental Comprehensive Disabilities Benefit (CAI)
Contact
Address: Nations and Nationalities Square, Nile Insurance Building, 12836 Addis Ababa, Ethiopia
Phone/Mobile: +251 114 426000
Fax: +251 114 426008
Email: info@nileinsurancesc.com, support@nileinsurancesc.com
Official Website: https://nileinsurancesc.com/
3. Oromia Insurance Company (OIC)
best insurance agency in Ethiopia Oromia insurance agency
Oromia Insurance Company was set up and authorized by the National Bank of Ethiopia on January 26, 2009, to take part in the Ethiopian general protection business.
At present, Oromia Insurance Company has 38 branch workplaces and 3 contact workplaces all through Ethiopia. The organization likewise works with various deals specialists, protection intermediaries, also, similar to banks.
Oromia Insurance Company's Services
Gathering/Individual Term
Gathering Endowment
Home loan Protection Insurance
Entire Life
Normal Endowment
Unadulterated Endowment
Expected Endowment
Enrichment Annuity
Training Endowment
Clinical Insurance
*Riders (Supplementary Contracts)
• Accidental Death Benefit (ADB)
• Accidental Death and Dismemberment Benefit (AD and D)
• Comprehensive Accidental Insurance Benefits (CAI)
• Waiver of Premium Benefits (WOP)
• Funeral Expense Cover
• Terminal Illness/Dread Disease Cover
• Permanent Disability
• Supplementary Accident
• And more...
• NON-LIFE INSURANCE
• All danger Insurance
• Burglary and Housebreaking Insurance
• Bonds
• Performance Bond
• Supply Bond
• Customs Bond
• Bid Bond
• Maintenance Bond
• Advance Payment Bond
• Retention and Release Bond
• Condominium Insurance
• Consequential Loss
• Engineering
• Boiler Insurance
• Contractors All Risks Insurance
• Contractors' Plant and Machinery Insurance
• Erection All Risks Insurance
• Electronic Equipment Insurance
• Machinery Breakdown Insurance
• Machinery breaking and Loss of Profit Insurance
• Fidelity Guarantee Insurance
• Fire and Allied Periled Insurance
• Goods – in – Transit
• Horticulture-ranch protection
• Inland Carrier's Liability Insurance
• Marine Cargo Insurance
• Money Insurance
• Motor Insurance
• Personal/Group Personal Accident Insurance
• Plate Glass Insurance
• Professional Indemnity Insurance
• Public Liability Insurance
• Workmen's Compensation Insurance
• Travel Health Insurance
Contact
Principle Office Address: Bole Africa Avenue, Addis Ababa, Ethiopia
Phone/Mobile: +251-115-528-557/+251-929-907-518
Fax: +251-115-503-192
P.O. Box: 10090
Email: oicreinsurance@ethionet.et
Official Website: https://www.oromiainsurancecompany.com.et/
4. Ethiopian Insurance Corporation (EIC)
best insurance agency in Ethiopia Ethiopian protection enterprise
Ethiopian Insurance Corporation was set up in 1976 by decree No.68/1975.
• To participate in all classes of the protection business in Ethiopia;
• To spread the advantages of protection to all individuals in Ethiopia reasonably;
EIC has been in the Ethiopian protection area for a very long time as a state-possessed sole safety net provider. After the end of the Marxist system in mid-1991, a crucial change has occurred and there was a change in political, monetary, and social direction from autocracy to that of progressivism.
Ethiopian Insurance Corporation's Services
Long haul protection
Individual long haul protection approaches
• Term Life Assurance
• Ordinary Endowment
• Endowment Annuity
• Whole Life Assurance
• Children's Education (with benefit)
• Anticipated Endowment (with benefit)
• Mortgage Protection Assurance
Gathering long haul protection approaches
• Ordinary Group Term Assurance
• Modified Large Group Term Life Assurance
• Group Endowment
• Group Medical Assurance
Riders
• Executive Medical Insurance
• Comprehensive Accident Insurance
• Terminal Illness (Dread Disease Insurance)
• Pre-need Funeral Expense Insurance
General Insurance Policies
• Fire and Allied Perils
• Burglary and House Breaking
• Consequential Loss (Business Interruption)
• Motor-Commercial Vehicle
• Motor-Private Vehicle
• Marine (Cargo and Hull)
• Goods-in-Transit
• Inland Carriers Liability
• Aviation (Cargo and Hull)
• Bonds
• Engineering
. Workers for hire All Risk
. Workers for hire Plant and Machinery
. Kettle Insurance
. Decay of Stock
. Erection All Risks
. Electronic Equipment Insurance
. Apparatus Breakdown
. Apparatus Loss of benefit
• All Risks
Individual/Group Personal Accident
Constancy Guarantee
Cash
Fortified Glass
Item Liability
Proficient Indemnity
Public Liability
Laborers' Compensation
Townhouse Insurance
Harvest Insurance
Live Stock
Climate Indexed Crop Insurance
Cultivation Plantation Insurance Policy
Financiers Blanket Policy
Lawful Expense
Travel Coupon
Stockroom Operators Liability
Householders Comprehensive
Contact
Principle Office Address: Ras Mekonnen st., Leghar before Ethiopian Shipping and Logistics, Addis Ababa, Ethiopia
Phone/Mobile: +251-11-551-2400
Fax: +251-115-51-74-99
P.O. Box: 2545
Email: eic.mdxvs@eic-et.com/bdrm@eic-et.com/comesaycard@eic-et.com
Official Website: https://eic-et.com/
5. Nyala Insurance Share Company (NISCO)
best insurance agency in Ethiopia nyala protection share organization
Nyala Insurance Share Company was set up in July 1995 after the advancement of the Ethiopian protection business to the private area in 1994 with the Licensing and Supervision of Insurance Business Proclamation No. 85/1994.
Nyala Insurance Share Company's Services
• Life Insurance
o Group Yearly Renewable Term
o Individual Term Insurance
o Medical Insurance Cover
o Mortgage Protection
o Comprehensive Accident
o Endowment Assurance
• Non-Life Insurance
o Coffee Plantation Insurance
o Fire and Lightning Insurance
o Fidelity Insurance
o Marine Insurance
o Money Insurance
o Motor Auto Insurance
o Travel
o Workmens' Compensation Insurance
o Accident Insurance
o Burglary Insurance
o Engineering Insurance
o GREENHOUSE (HORTICULTURE) POLICY
• Micro Insurance
0 Comments