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About us

About NICE

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 35 Branch offices and 4 licensed Contact offices located in Addis Abeba and different parts of the country. It started business transaction in October 1994.

Shareholders

The founding shareholders of NICE are prominent businessmen and professionals with wide knowledge and experience of the Ethiopian economy and business, and with extensive exposure of the economic activities and business realities of the outside world. The founding shareholders are committed to making the company sound, sturdy and efficient financial institution in Ethiopia.

NICE Insurance Policies

NICE insurance policies are designed to conform to the terms and conditions available in the international insurance market, incorporate terms and conditions, to safeguard the interest of its customers and  clearly mark their respective rights and obligations. We make it our responsibility to advise our clients to obtain the right insurance cover at economic premium rates.

NICE insurance policies are backed by well-known international re-insurers, which are rated for their financial strength and prudence.

Share Capital Structure

The authorized Capital of the company is 84,864,000 Birr or 84,864- shares of 1000.00 Birr par value each. Currently, the paid up capital of the company stands at 70,019,051 Birr. The minimum shareholding is 50 shares, while the maximum shareholding allowed by law is 5 percent of the capital. Shareholding is allowed to Ethiopian Nationals only for the time being.

Board of Directors

The current Board of Directors comprises of
 

Ato Alemayehu Haile

Chairman

Ato Hailu G/Hiwot

Member

Eng. Tamirat Iyob

Member

Major Merid Abate

Member

Ato Habtemariam Shumgizaw

Member / Secretary

The Management

The management is lean and forthcoming with open door policy and is very receptive to new ideas, including yours!

Our underwriting staff are professionals who are capable of assessing customers' insurance needs with ability to perpare tailor made appropriate insurance solutions with internationally accepted terms and conditions.

Our staff are continuously trained to upgrade their skills in their respective fields of operation to enable them provide fast and efficient service.