Nib Insurance Company
Nib Insurance Company (NIC) is an Ethiopian insurance company engaged in providing different insurance services such as Motor Insurance, Property Insurance, Marine Insurance, Enginering Insurance, Legal Liability Insurance, Pecuniary Insurance, Travel Health Insurance for Europans and Shengen states and Life Insurance services in Ethiopia.
Nib Insurance Company (NIC) was established by 658 shareholders with an authorized capital of Birr 50.0 million and a Paid-Up Capital of Birr 14.0 million in May 02, 2002 with 4 branches in Addis Ababa and a total staff size of not more than 50. Currently, the paid up capital has reached to Birr 250 million and the number of shareholders increased to 1,014. NIC provides both General (Non-Life) Insurance and Life Assurance Services to its clients.
The Company undertakes its operations through its Head Office, 40 branches and 1 Contact Office (For the General Insurance) and 1 Life Assurance branch. Twenty-Five of the branches are located in Addis Ababa. Currently, the number of employees working for NIC has reached to 416.
Our Company’s logo is a combination of two highly valued symbols.
- The Queen Honeybee in the logo symbolizes leadership in a teamwork which effectively leads in the production of its sweetest product, the honey.
- The Umbrella, which is of a traditional Ethiopian variety, symbolizes protection from heavy rain and sun burn.
- Together the Queen Honeybee and its Umbrella symbolize our Company’s provision of cover against risks on life and property through efficient and quality service
“To be a first class insurance company preferred by stakeholders for its quality and diversified service”
“To provide reliable and quality Insurance service and maximize shareholder’s value and support the overall growth of the Country.”
- Transparency and accountability in the provision of service, information and also in decision making
- Respect & honesty in dealing with stakeholders
- Integrity at work at all levels
- Trustworthy and dependable partner to all customers
- Socially responsible
- Preferred by customers for its loyalty and commitment in serving them
- Avoid discrimination of any sort Our Motto Your intelligent choice
Your intelligent choice!
The company has reinsurance arrangements with internationally renowned and financially strong Reinsurance Companies.
- Currently undergoing preparatory works to build Head Quarter building on a prime location on the Bole Road near Mega Building.
- A multi -purpose store Building and Recovery yard in Addis Ababa, Akaki-Kality Sub-City
- A multipurpose building at Dire Dawa City.
- A 86.8 million share investment in Nib International Bank
- 8.4 million investment in Jemar Hulegeb Industries
- 4.8 million share investment in Agar Micro Finance
- 25 million ( paid share) in Ethiopian Re-Insurance Company
- 1000 share in Tri Bankers ATM
Nib Insurance Company S.C. provides Non-Life (General) Insurance and Life Assurance service to the public which include:-
1. General (Non-Life) Insurance Products
1.1 Property Insurance
- Motor Insurance
- Fire Insurance
- Burglary and House Breaking Insurance
- Plate Glass Insurance
- Marine Cargo Insurance
- Goods in transit
- “ALL RISK” Insurance
1.2 Engineering Insurance
- Contactors “ALL RISK” Insurance (CAR)
- Erection all risk insurance
- Contractors plant and machinery
- Machinery Breakdown Insurance
- Machinery Breakdown Insurance
- Electronic Equipment Insurance (EEI)
- Boiler and Pressure Vessel Insurance Policy
1.3 Liability Insurance
- Public Liability Insurance
- Professional indemnity Insurance
- Product Liability Insurance
- Carrier Legal Liability Policy
- Workmen Compensation
- Business Interruption Insurance
1.4 Pecuniary Insurance
- Fidelity Guarantee Insurance Policy
- Money Insurance
1.5 Group/Personal Accident Insurance(GPA/PA)
2. Life Assurance Products
- 2.1 Group Term Assurance
- 2.2 Individual Term Assurance
- 2.3 Whole Life Assurance
- 2.4 Mortgage Protection Insurance (MPI)
- 2.5 Endowment Assurance (With or Without Profit)
- 2.6 Educational Endowment Policy (With profits)
- 2.7 Medical Expense Insurance
- 2.8 Travel Health Insurance
- 2.9 Riders
- Accidental Death benefit ( ADB)
- Accidental Death and Dismemberment Benefits ( AD&D)
- Comprehensive Accidental Insurance Benefits (CAI)
- Waiver of Premium Benefits (WOP)
- Funeral Expenses Cover
- Terminal illness/Dread Disease Cover