National Insurance Company of Ethiopia S.C. (NICE)
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 Ababa, Ethiopia, and operates through 43 Branch offices and 7 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 Birr 250,000,000 or 250,000- shares of Birr 1,000.00 par value each. Currently, as at June 30, 2023 the paid up capital of the company stands at Birr 230,314,690. 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.