What is Ethiopian Insurance?
Ethiopian insurance in its modern form first began in 1905 when the then Bank of Abyssinia which was owned by the Bank of Egypt began to transact insurance as an agent of a foreign insurance company which would underwrite fire and marine insurance policies in Ethiopia.
What is the penetration level of insurance in Ethiopia?
All in all, the penetration level of insurance in Ethiopia, Sudan, and Eritrea is 0.5%, which is lower than the region’s average of 1.08%. This low level of insurance penetration is caused partly due to the low level of insurance consumption by Ethiopians and also due to the lack of understanding by the policy makers and the general public.
What is the authorized capital of National Insurance Company of Ethiopia?
National Insurance Company has a head office is in Addis Ababa, Ethiopia, and operates through 38 branch offices and 4 licensed contact offices located in Addis Ababa as well as in, different parts of the country. The authorized capital of the company is 100,000,000 ETB or 10000 shares of 1000 ETB par value each.