National Insurance Company of Ethiopia
NICE is the first wholly privately owned insurance company, established in post – 1994 Ethiopia, to engage in general insurance business. Its Head office is in Addis Abeba, Ethiopia, and operates through 40 Branch offices and 4 licensed Contact Offices located in Addis Ababa and different parts of the country. It started business transaction in October 1994.
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The authorized Capital of the company is 100,000,000 Birr or 10000- shares of 1000.00 Birr par value each. Currently, the paid up capital of the company stands at 80,383,216 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.