Photo: Dvermeirre, Wikimedia Commons, CC BY-SA 4.0Licensed insurance companies in Ethiopia
Insurance companies in Ethiopia: the 18 licensed insurers
Short answerChecked 23 September 2026
Ethiopia has 18 insurance companies licensed by the National Bank of Ethiopia: the state-owned Ethiopian Insurance Corporation (established 1975) and 17 private share companies, the newest being Zemen Insurance (2020). Together they had 839 branches in 2024/25.
When each insurer was established
Dates as listed in the NBE directory:
| Insurer | Established |
|---|---|
| Ethiopian Insurance Corporation | 1975 |
| Africa Insurance Company S.C. | 1994 |
| Awash Insurance S.C. | 1994 |
| National Insurance Company of Ethiopia S.C. | 1994 |
| Nile Insurance Company S.C. | 1995 |
| Nyala Insurance S.C. | 1995 |
| Global Insurance Company S.C. | 1997 |
| United Insurance Company S.C. | 1997 |
| Nib Insurance Company S.C. | 2002 |
| Lion Insurance Company S.C. | 2007 |
| Ethio-Life & General Insurance S.C. | 2008 |
| Oromia Insurance S.C. | 2009 |
| Abay Insurance S.C. | 2010 |
| Berhan Insurance S.C. | 2011 |
| Lucy Insurance S.C. | 2012 |
| Tsehay Insurance S.C. | 2012 |
| Bunna Insurance S.C. | 2013 |
| Zemen Insurance S.C. | 2020 |
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 and 54 brokers (NBE) — ask any intermediary for their NBE licence before you pay.
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.
The national reinsurer, Ethiopian Reinsurance (Ethio-Re), does not sell to the public. According to the NBE's March 2026 Financial Stability Report, 14 insurers write both life and general business and 4 write general business only; a first full takaful (sharia-compliant) insurer is being formed.
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Frequently asked questions
What is the oldest insurance company in Ethiopia?
The state-owned Ethiopian Insurance Corporation, established in 1975 according to the NBE directory.
How many insurance companies are there in Ethiopia?
18, according to the NBE Annual Report 2024/25: one state-owned and 17 private.