Established in May 2002, Nib Insurance Company S.C. (NIC) is a major private composite insurer in Ethiopia. Headquartered at Dembel City Center in Addis Ababa, the company originally formed as a sister company to Nib International Bank, beginning its operations with an initial paid-up capital of Birr 14 million.
Today, NIC has built a robust market presence supported by over 1,350 shareholders and extensive reinsurance arrangements with international firms, alongside diversified investments across several financial and industrial sectors.
Key Financial & Network Standing
- Paid-Up Capital: Reached Birr 1.3 billion as of June 30, 2025.
- National Network: Operates over 50 outlets (including 49 branches) across Ethiopia.
- Strategic Partnership: Partners with Ethiopian Airlines ShebaMiles to offer specialized customer reward benefits.
Services Provided
Nib Insurance S.C. delivers reliable financial protection through two primary branches of insurance:
General (Non-life) Insurance
Tailored policies designed to secure assets, transit, and operations for businesses and individuals:
- Motor Vehicles
- Marine Transport
- Fire
- Engineering
- Liability
Life Assurance
Long-term and personal safety net products protecting families and employee groups:
- Term Life
- Group Life
- Related Personal Insurance Products
Open Positions at Nib Insurance Company S.C.