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 40 Branch offices and 4 licensed Contact offices located in Addis Abeba and different parts of the country. It started business transaction in October 1994.
Share Capital Structure
The authorized Capital of the company is 250,000,000 Birr or 250,000- shares of 1000.00 Birr par value each. Currently, the paid up capital of the company stands at 136,000,000 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.
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.
Board of Directors
Our vision is to make NICE-ET one of the Dominant Market Leaders in insurance business in Ethiopia, and become the preferred choice of the public at large.
- We are customer focused and fulfill promises.
- We are a professional team striving for excellence in our work with good team spirit.
- We act responsibly with integrity.
- We keep a breast with technological changes to enhance efficiency and proficiency.
- To provide insurance service with quality beyond the expectation of our clients.
- To respond to claims promptly and efficiently in time of perils.
- To enhance good corporate governance.
- To manage NICE’s business affairs prudently, efficiently and profitably to make the company financially strong & to ensure continuity.
- To enhance professionalism and skills of the staff to add value to customer service and all stakeholders.
- To create job opportunities and job security and enhance the well being of the company employees.