Photo: Laika ac from UK, Wikimedia Commons, CC BY-SA 2.0Insurance companies in Ethiopia
The list of all 18 licensed insurers
Free, no obligation. Only insurers and brokers licensed by National Bank of Ethiopia receive your request.
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The list, oldest to newest
Dates as listed in the NBE directory; click a name for its profile (capital, branches and what the regulator publishes about it):
Who is biggest? The NBE publishes each insurer's capital and branches: see the largest insurance companies in Ethiopia, or put two side by side with compare two insurers.
Life, general, reinsurance and takaful
| Kind of company | How many (June 2025) | What it means for you |
|---|---|---|
| Composite insurers | 14 | Sell both life and general insurance (motor, fire, health, engineering…) |
| General-only insurers | 4 | Sell general insurance only |
| State-owned insurer | 1 (Ethiopian Insurance Corporation) | 33.9% of general business — the largest single share |
| Reinsurer | 1 (Ethiopian Reinsurance, Ethio-Re) | Does not sell to the public; receives 25% of treaty cessions and 5% of each policy written |
| Full takaful insurer | 1 under formation | Sharia-compliant cover; today sold through takaful windows |
Source: NBE Financial Stability Report, March 2026.
The sector in figures (2024/25)
| Indicator | Figure |
|---|---|
| Gross written premium | ETB 41.1 billion (+43.1%) |
| Motor share of general business | 49.6% |
| Claims ratio, general business | 51.0% |
| Combined ratio (claims + expenses) | 86.4% (NBE maximum standard: 105%) |
| Total assets | ETB 84.9 billion |
| Paid-up capital of all insurers | ETB 15.9 billion |
| Branches | 839 |
The NBE has told insurers to raise their paid-up capital to ETB 0.4 billion for general business and ETB 0.1 billion for long-term (life) business by the end of June 2027 (NBE). The NBE publishes no claims ratio or complaints count per company, so these are sector figures only.
How to check a company, agent or broker
Check the insurer on the NBE's list of insurers. The market also counts 3,077 licensed agents, 54 brokers, 80 loss assessors and 2 surveyors (NBE) — ask any intermediary for their NBE licence before you pay, and pay against an official receipt in the insurer's name.
Buying vehicle cover? Learn how a third-party cover is checked. Unhappy with an insurer? It has 10 business days to answer a written complaint, then you can go to the NBE complaint office.
What may change
A draft Insurance Proclamation published in April 2026 would move supervision from the NBE to a new Ethiopian Insurance Regulatory Authority and open the sector to foreign investors. As of August 2026 it was awaiting parliamentary approval. We will update this list when new companies are licensed.
The list: 18 licensed insurers in Ethiopia
As published by the National Bank of Ethiopia — licensed insurers (NBE directory, confirmed by the NBE Annual Report 2024/25). Names are reproduced as the regulator lists them. Being on this list means a company is licensed; it is not a rating or a recommendation.
Insurance companies 18
- Abay Insurance S.C.
- Africa Insurance Company S.C.
- Awash Insurance S.C.
- Berhan Insurance S.C.
- Bunna Insurance S.C.
- Ethio-Life & General Insurance S.C.
- Ethiopian Insurance Corporation
- Global Insurance Company S.C.
- Lion Insurance Company S.C.
- Lucy Insurance S.C.
- National Insurance Company of Ethiopia S.C.
- Nib Insurance Company S.C.
- Nile Insurance Company S.C.
- Nyala Insurance S.C.
- Oromia Insurance S.C.
- Tsehay Insurance S.C.
- United Insurance Company S.C.
- Zemen Insurance S.C.
Insurer profiles in Ethiopia
The main insurance groups, with every licensed company behind the brand and where else it is licensed.
- Abay Insurance Ethiopia1 licensed company
- Africa Insurance Ethiopia1 licensed company
- Awash Insurance Ethiopia1 licensed company
- Berhan Insurance Ethiopia1 licensed company
- Bunna Insurance Ethiopia1 licensed company
- Ethio-Life & General Insurance Ethiopia1 licensed company
- Ethiopian Insurance Corporation (EIC) Ethiopia1 licensed company
- Global Insurance Ethiopia1 licensed company
- Lion Insurance Ethiopia1 licensed company
- Lucy Insurance Ethiopia1 licensed company
- National Insurance Company of Ethiopia Ethiopia1 licensed company
- Nib Insurance Ethiopia1 licensed company
- Nile Insurance Ethiopia1 licensed company
- Nyala Insurance Ethiopia1 licensed company
- Oromia Insurance Ethiopia1 licensed company
- Tsehay Insurance Ethiopia1 licensed company
- United Insurance Ethiopia1 licensed company
- Zemen Insurance Ethiopia1 licensed company
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Frequently asked questions
How many insurance companies are there in Ethiopia?
18, according to the NBE Annual Report 2024/25: one state-owned and 17 private. 14 write life and general business, 4 general business only. Ethio-Re, the national reinsurer, does not sell to the public.
What is the oldest insurance company in Ethiopia?
The state-owned Ethiopian Insurance Corporation, established in 1975 according to the NBE directory.
What is the newest insurance company in Ethiopia?
Zemen Insurance S.C., established in 2020 according to the NBE directory. A full takaful insurer was under formation in 2025.
Which is the best insurance company in Ethiopia?
Tulinde does not rank insurers, and the NBE does not publish claims or complaints figures per company. Compare capital and branches on the largest insurers, then compare the policy wording, the premium and the claims process of two or three quotes.
Who regulates insurance companies in Ethiopia?
The National Bank of Ethiopia, under the Insurance Business Proclamation No. 746/2012 as amended. A draft law would create a separate Ethiopian Insurance Regulatory Authority; it was not law as of August 2026.
Sources
- National Bank of Ethiopia — licensed insurers
- National Bank of Ethiopia — Annual Report 2024/25
- National Bank of Ethiopia — Financial Stability Report, March 2026
- National Bank of Ethiopia — insurance business directives
- Capital Ethiopia, 23 August 2026 — insurance reform awaiting parliamentary approval