Nyala Insurance Share Company (NISCO)

Nyala Insurance S.C. (NISCO) is a leading insurance company in Ethiopia known for its strong performance, growth, and financial position. Established in 1995 with a subscribed capital of Birr 25 million and paid-up capital of Birr 7 million, NISCO initially focused on general insurance business. In 2005, it expanded to include life insurance and increased its paid-up capital to Birr 35 million. Over the past 10 years, NISCO has experienced rapid growth, with its paid-up capital reaching Birr 830 million. Headquartered in Addis Ababa, NISCO operates through a network of 48 service outlets (41 Service Centers and 7 Contact Offices) across Ethiopia. In 2023, the company wrote Birr 1.3 billion of premium income, realized a gross profit of Birr 303.6 million, and had total assets of Birr 3.8 billion. NISCO has recently shifted its focus to digital insurance services and introduced a five-year strategic plan called "DigiLeap." This plan aims to digitize the insurance business and reflects the company's forward-thinking approach.