Skip to content
+251-11-551-2400
+251-11-551-7499
eic.mdxvs@eic-et.com

About Us

We are pioneer and leaders of insurance industry in Ethiopia

Historical Background

Ethiopian Insurance Corporation (EIC) was established in 1976 by proclamation No.68/1975. The Corporation came into existence by taking over all the assets and liabilities of the thirteen nationalized private insurance companies, with Birr 11 million (USD 1.29 million) paid up capital aiming the following objectives.

Engage in all classes of insurance business in Ethiopia;
Ensure the insurance services reach the broad mass of the people;

Subject to the provision of Article 18 of the Housing and Saving Bank establishment proclamation No. 60/1975, promote efficient utilization of both material and financial resources

EIC was operating the business for about nineteen years under protected monopolistic system as state owned-sole insurer. After the demise of the Marxist regime in mid-1991 a fundamental change has taken place and there was a shift in political, economic and social orientation from totalitarianism to that of liberalism. Therefore, EIC was re-established as public enterprise under proclamation number 201/94 with Birr 61 million (USD 7.13 million) paid up capital.

Upon re-establishment of the Corporation in 1994 as state owned enterprise, the law covers the following new objectives to the Corporation:

Engage in the business of rendering insurance services;
Engage in any other related activities conducive to the attainment of its purposes.

Vision, Mission & Core Values

Vision

“To be a world class insurer by the year, 2025”

Mission

“We provide our customers an efficient and reliable insurance service and engage in investment activities by deploying the right mix of expertise, the state of the art technology and cost effective strategy. In doing so, we contribute to the sustainable development of the national economy and play a vital role in the industry.”

Core Values

  • Customer Focused: We seek first to understand the needs and expectations of our customers and we deliver on them;
  • Development Partner: We are partner in the Government’s development program;
  • Pro-Activeness: We provide professional advice to our customers on loss prevention and control;
  • Excellence: We are aware of our performance and we constantly strive to deliver better than the last time in everything we do;
  • Transparency and Accountability: We take positive responsibility for the planning, successful execution and delivery of our services;
  • Team Work: We help each other to do better and together we support one another to keep the promise we made to our customers; and
  • Professional Ethics: we value Playing a pivotal professional Role aimed at meeting ethical standards in the insurance industry as a whole.
  • Learning Organization: We value continual learning and use state of the art technology.

Organizational Structure

EIC org-chart

Executive Management

EIC Top Management

Staff Development

In order to continuously upgrade the educational qualification of its employees.EIC exhibited outstanding commitment in providing its staff with short & long term training programs both here in with Ethiopia and overseas.

As of June 30, 2018 EIC has 1,504 employees with different educational background. Both the management and supervisory staff of the corporation are highly skilled professionals with outstanding academic achievements as well as professional insurance qualifications and many years of excellent practical experience in the insurance industry.

Let’s talk about your insurance needs?

retro-blazer-600x479-1

The Back-to-Work Power Suit

Fall is upon us and dressing up for work will be exciting all over again with these power suits.

See more

The Sultriest Swimsuits

Let your weekend getaways take care of themselves – we’ve got you and your assets covered.

See more

woman-grayscale-600x479-1
retro-blazer-600x479-1

The Back-to-Work Power Suit

Fall is upon us and dressing up for work will be exciting all over again with these power suits.

See more

The Sultriest Swimsuits

Let your weekend getaways take care of themselves – we’ve got you and your assets covered.

See more

woman-grayscale-600x479-1
retro-blazer-600x479-1

The Back-to-Work Power Suit

Fall is upon us and dressing up for work will be exciting all over again with these power suits.

See more

The Sultriest Swimsuits

Let your weekend getaways take care of themselves – we’ve got you and your assets covered.

See more

woman-grayscale-600x479-1
retro-blazer-600x479-1

The Back-to-Work Power Suit

Fall is upon us and dressing up for work will be exciting all over again with these power suits.

See more

The Sultriest Swimsuits

Let your weekend getaways take care of themselves – we’ve got you and your assets covered.

See more

woman-grayscale-600x479-1
retro-blazer-600x479-1

The Back-to-Work Power Suit

Fall is upon us and dressing up for work will be exciting all over again with these power suits.

See more

The Sultriest Swimsuits

Let your weekend getaways take care of themselves – we’ve got you and your assets covered.

See more

woman-grayscale-600x479-1
retro-blazer-600x479-1

The Back-to-Work Power Suit

Fall is upon us and dressing up for work will be exciting all over again with these power suits.

See more